Draft:TransCrypts

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TransCrypts is a Canadian digital identity and credential verification company with offices in Toronto, Ontario and San Francisco, California.^[1] The company develops tools for storing, verifying, and sharing records, including employment, income, and health credentials.^[2][3]

The company has been described as part of the self-sovereign identity and digital credential verification sector, using cryptographic technologies to allow individuals to access and share verified records with third parties.^[4][5]

In 2020, TransCrypts was founded by cousins Zain Zaidi and Ali Zaheer.^[6] The idea for the company was influenced by Zaidi's experience during a graduate-school application process, when a third-party service failed to deliver his undergraduate transcript to the school.^[7] The company later developed a records-management platform intended to let individuals access and share verified personal records with third parties,for credential verification.^[8]

In 2021, TransCrypts won Silicon Valley Business Plan Competition, winning a $10,000 award.^[9] The San Francisco Business Times featured TransCrypts cofounder as an "Under 25" founder and reported that TransCrypts had 45 customers including Spirit Airlines, Urban Outfitters, and Zoom Communications. ^[10].

In 2023, TransCrypts raised a $2.4M USD pre-seed round from investors Mark Cuban, Protocol Labs, and Techstars.^[11] That year in response to the Russo-Ukrainian war, TransCrypts granted Ukrainian refugees free access to their medical records on the TransCrypts platform^[12]. These refugees would be able to securely access and share their respective records in the host countries where they were receiving treatment ^[11]. To date TransCrypts' medical records have been used by over 100,000 Ukrainian refugees and has led to TransCrypts being recognized for its social impact by The Globe & Mail and Forbes.^[13][14]

In an interview with Bloomberg, Zaidi is quoted to have said that their medical records platform has received HIPPA certification as of December 2025 with plans on bringing their medical record platform to North America.^[12] At the 2026 commencement address at San Jose State University, Zaidi states that they expanded their philanthropic efforts to eight countries. ^[15][16]

In 2025, TransCrypts raised a $15M USD seed round from investors Pantera Capital, Lightspeed, and The Motley Fool.^[17] In an interview with Axios, Mark Cuban stated, “Trust online is under attack with AI fraud and deepfakes. TransCrypts puts control back in people’s hands, making verification faster, smarter and more secure". TransCrypts has served over 450 enterprise customers and processed over 4M verifications and has grown to the 5th largest verification provider in the United States of America.^[18][19]