We’ve seen countless teams attempt to reinvent digital identity, but the hard part isn’t the technology — it’s utility. Building a new identity layer that people actually use requires a wedge: a concrete, recurring use case that solves a real pain point while quietly building trust and network effects underneath.This has been our number one investment criterion in the identity space.

 

When we met TransCrypts, we immediately recognized that they had found that wedge.

 

Today’s identity systems are broken. In 2024 alone, over 1.35 billion individuals had personal records exposed in data breaches — a 282% increase year over year.  Every year, millions of people are held up by slow, outdated verification processes for employment, income, education, and medical records. HR teams waste 12–25 hours a month responding to repetitive verification requests, especially in organizations that process >100  monthly. 

 

Employees often wait 3–5 business days (or more) for documents they need to secure housing, loans, or new jobs—delays that cost not only time, but opportunity. 

 

Third parties and verifiers rely on expensive, centralized intermediaries that add cost without increased trust. Meanwhile, everyone remains exposed to risk under the Fair Credit Reporting Act—especially because some credit bureaus, like Equifax and Experian, have been implicated in unauthorized data sales.  

 

The status quo is inefficient, costly, and increasingly unsustainable. Users have a right to own and control the use of their personal data. TransCrypts has proven to solve problems for 4M+ individuals, 3M+ verifications; ~500 enterprise customers, including the Fortune 500 & leading healthcare, defense, & finance companies. 

 

Solution: TransCrypts 

 

TransCrypts replaces the broken system with a credentialing platform that leverages zero-knowledge proofs for repeat, verifiable and self-sovereign identity. The product integrates directly with HR and payroll providers like Rippling (takes only 10 minutes!), issuing verified records (such as proof of employment and income) to employees on a recurring basis. Employees can then share them with landlords, lenders or employers. 

 

Every record is end-to-end decrypted and stored on IPFS with limitless verifiability and removing the cost of middlemen. TransCrypts’ solution recently acquired the HIPPA certification allowing them to handle sensitive medical records on behalf of their users. 

 

 

TransCrypts is an attractive solution because of their ability to automate incoming verifications and integrate into enterprises’ existing HR stack, reduce overheads to <1 hour, remove FCRA liability since the data / proof generated is user-owned and offer this at a fraction of the cost. 

 

TransCrypts’ solution is versatile and can support multiple industries in the future like education (matriculation issuance and verification), healthcare, legal (identity, proof of address etc), and finance (income verification). Each represents a large addressable market where trust, portability, and speed are critical. TransCrypts is positioning itself to be the backbone of verifiable digital records across industries. 

 

Meet the Team  

 

When we met Zain and Ali the first time, we weren’t expecting founders in their mid-20s to have such incredible insights into ADP systems, data privacy, FCRA lawsuits and more. They had built a working growth playbook and were selling to conglomerates in space & defense, D2C, technology and more. Very few crypto companies have been able to achieve this. 

 

TransCrypts’ technology has helped Ukrainian refugees access their health records safely and helped earthquake victims in Turkey to let patients share their medical histories. 

 

Our Thesis

 

Credentialing is one of the most foundational layers of the digital economy. For decades, it has been controlled by centralized entities that extract value without adding efficiency or trust. TransCrypts flips the model: giving enterprises lower costs, giving individuals ownership, and embedding blockchain as the trust fabric for verification.

 

We believe TransCrypts can become the standard infrastructure for verifiable records worldwide. We’re proud to back them as they scale their platform beyond employment verification into education, healthcare, legal, and beyond.

 

The future of digital identity is user-owned, portable, and verifiable. TransCrypts is building that future today.