Trustmatic: How this Startup is changing the Identity Verification Space

💸 Fundraising
Jun 25, 2021
Trustmatic: How this Startup is changing the Identity Verification Space


“My journey to becoming an entrepreneur is down to two things; necessity and curiosity.”

Trustmatic: a tech startup to look out for.


Startup founder profile: Who is Donal Greene?

Donal Greene  is an tech entrepreneur you just can’t miss. As the founder and CEO of Trustmatic, co-founder of Uroda Ventures, and Chief Experience Officer of Innovatrics, this Ireland-based tech startup businessman is paving the way for young startup founders to follow their true calling. 


Initially working towards becoming a professional football player, Greene’s injury had forced him to shift gears. This life-changing event opened his eyes to the entrepreneurial world, and what he can do to make it better. 


“My journey to becoming an entrepreneur is down to two things; necessity and curiosity,” Greene says. 


Necessity because my initial plan in life was to be a professional football player and when injury curtailed my career in my early 20s, I found myself needing to find some meaningful employment without the benefit of third-level education.


Curiosity because I believe to be successful in business you need to have a deep curiosity about whatever field you apply yourself to, and the problems you’re trying to solve.“



Startup business: Trustmatic

Greene worked at Innovatrics for six years before founding his tech startup. Innovatrics is a global leader in biometric technology, where the multi-talented businessman managed business in the EMEA (Europe, the Middle East and Africa) region. Whilst working in this industry, Greene quickly realized the obvious gap in the identity industry. 


“On one side, you have deep tech companies developing super accurate biometric and computer vision algorithms, and on the other side, you have organisations that have business problems that can be solved using these algorithms, but who don’t have the knowledge or experience to integrate them efficiently.”


Being the opportunist that he is, Donal Greene took it upon himself to fix this issue by founding his own tech startup, Trustmatic. As he describes it, Trustmatic was born “to take best-in-class identity technology and use it to build applications and platforms which solve real-world problems.“



Trustmatic: changing how organisations and their users establish trust with each other.




Challenges faced by startups: Fundraising and networking

Ask any startup founder, tech startups more specifically, what they need the most help with, and you’ll probably find that the most common answer is fundraising. Donal Greene found that he had a few options to raise seed capital for his tech startup, Trustmatic, but he did not feel like they were suitable for him.


“I wasn’t comfortable with the amount of equity I'd have to sacrifice.”


This startup problem led him to think outside the box. He realized that networking was crucial to “build a founding team of talented people who could work on the technical development and get us off the ground without a huge amount of initial investment.” Smart. 



Startup management tools: Objective and Key Results (OKRs)

When asked about the tools and platforms he uses to manage his tech startup business strategically, Donal Greene mentions Objective and Key Results (OKR) frameworks to set high-level goals, and to effectively track their progress to get there.

His team also uses platforms such as Trello to keep track of ongoing tasks, and uses the Agile Kanban methodology to ensure that the Trustmatic team makes the most of internal and external resources available to them.

A great piece of advice to take away from Greene’s interview in regards to OKRs is regardless of having top-notch management tools and processes in place, “As a startup, it’s most important to be dynamic and react to changes early.”

Trustmatic is always looking for the most effective way to work as a unit. 



Looking ahead: Trustmatic’s future

Donal Greene is confident that Trustmatic will scaleup from a tech startup to a major player in the online identity verification space in the next five years. 


“We have the vision, the strategy, and the people to execute it.”


Like any good startup business, Trustmatic is open to opportunity. Greene believes that the tech company could be invested in or acquired by a large player within this timeframe. Given the determination, efficiency and the dire need for this service in the tech industry, we think so too. 




You heard it here first: Advice from the startup founder


What motivates you? 

“I’m motivated by waking up each day with a sense of purpose; knowing that I have a number of things to achieve within a certain timeframe. I really enjoy the feeling of accomplishing goals, especially shared goals, as these require teamwork and communication.”


Looking back, what is one advice you would give to yourself as a startup founder?

“Be humble. It’s easy to get carried away. Also, reflect on yourself as often as you can and find ways to improve yourself, even if it’s just by 1% each day. Never stop learning.”



Donal Greene is also a founder of Uroda Ventures, a sustainable organization focused on empowering Ugandan communities through access to education and technology. 


“Uroda Ventures came about as the result of a chat with my Ugandan friend, Martin Mayanja. His description of the situation in Uganda convinced me that it was possible to develop a sustainable organisation that would focus on community farming, clean water, and biogas toilet projects. The aim of Uroda is to improve the lives of rural Ugandans by empowering them economically. It’s a project that I’m very proud of and we’ve made a difference to a lot of people already.”


Donal Greene is an exemplary startup founder to look out for. You can follow him and his startup Trustmatic and Uroda Ventures to witness the growth of these well-deserved and much needed startups that make the world a better place. 

Gayathiri Sri Rangan,
Marketing Executive at 7startup.vc