$15M Seed Round Led by Pantera Fuels TransCrypts’ Blockchain Identity Growth

TransCrypts, a blockchain startup focused on secure, user-controlled credentials, has raised $15 million in a seed round led by Pantera Capital. Additional participants included Lightspeed Faction, Alpha Edison, Motley Fool Ventures, and returning investors such as Mark Cuban and Protocol Labs.

The funding will allow TransCrypts to scale its platform beyond employment verification into healthcare and education. Users can encrypt and share records directly with authorized entities, while on-chain hashes ensure authenticity without exposing personal information.

CEO Zain Zaidi emphasized the company’s mission of “self-sovereign identity,” giving individuals full control over their data without reliance on employers, schools, or government agencies. With HIPAA compliance achieved, TransCrypts plans to enable verified medical histories and academic credentials, streamlining access for patients, students, and employers.

The platform currently serves over 4 million users and 450 enterprise clients. The new capital will enhance real-time credential verification tools and support entry into regulated sectors. Rising identity fraud and deepfake scams underscore the growing need for reliable decentralized verification systems.

Zaidi drew inspiration from a personal experience: misplaced transcripts that nearly cost him a graduate school opportunity. With this investment, TransCrypts aims to become a leading solution for secure, portable, blockchain-based identity.