Business Irish

Saturday 14 December 2019

Liam Casey puts faith, and his cash, into Trustev

Liam Casey
Liam Casey
Roisin Burke

Roisin Burke

LIAM Casey's investment in rapidly growing Irish fingerprint-based anti-fraud business Trustev is more than the "small stake" we thought it was.

The China and San Francisco-based entrepreneur, whose company makes Apple's brilliant accessories, is in for 10 per cent at the €3.8m backed company, it turns out.

"Trustev is fantastic, it's really exciting what they are doing," Casey said when we chatted on a very echoey phoneline between Dublin and Shenzhen. "Pat has put together a great team. [Pat is Pat Phelan, the ebullient company founder.] To me, it's the fun of seeing gutsy guys like that do well."

Trustev is attracting huge international attention – big US clients and competing with the biggest players in the world. "They're very focused on growth and investment and their solution is very good."

This is about more than a Corkonian bromance. Trustev is testing with US and European telcos and big retailers and investing heavily at the moment, so it is considered a hot prospect.

Casey is also an investor in Stripe, the $1bn-valued PayPal competitor founded by the Limerick Collison brothers.

He started his career in fashion retail and has always wanted to revisit that area, with a major retail venture in the pipeline. He's keeping the details under wraps for now.

"It's top of the agenda for us," he said. "In the next six months you'll see something."

His PCH International acquired ecommerce platform Shoplocket in January, where companies sell edgy tech accessories and wearable tech, like high fashion breathalysers, 360-degree spherical imagery cameras or audio recording wristbands.

Like others on the Ireland/Silicon Valley circuit, he's stoked about the new direct Aer Lingus flight.

"A lot of our people have used it already, one of our guys has been on it going to San Francisco on Monday morning and back to Ireland Friday night."

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