# TransCrypts

Redesigning Digital Documents Through The Blockchain



## Elevator pitch
We provide HRs a tool to automate the issuance and compliance of employment and income verification forms using the blockchain. As we grow we hope to use our technology for other types of documentation like criminal records, government ids, medical records, diplomas, etc.

- Canonical URL: https://wefunder.com/transcrypts
- Entity ID: wefunder:company:88034
- Last updated: 2026-06-07T05:02:25Z
- Generated at: 2026-06-08T01:55:56Z

## Quick facts
- Technical founding team
- Currently beta testing with 30+ companies
- User growth at over 40% since the start of our open beta in January 2021
- Building the future of data ownership
- Proprietary blockchain technology with licensing potential
- Winner of the 2021 Silicon Valley Business Plan Competition
- $2.7 Billion Total Market Opportunity just in the United States

## Active fundraises
- wefunder:fundraise:46023: 506(b) successful (USD)
- wefunder:fundraise:46022: 4(a)(6) successful (USD)

## Story
OverviewTransCrypts is a tool for human resource departments to automate the issuance of employment and income verification documents. The way our platform works is on a monthly basis we create blockchain-based employment and income verification forms and give them directly to the employee. Our platform benefits our HR clientele by saving them time and headache in dealing with the compliance of these verification documents. By giving the employee ownership over their employment and income information we are helping to create a world where data as a whole is democratized. A world where your employment and income information is not controlled by third party company whose only goal is to maximize profits. We are giving data ownership back into the hands of the people, and by creating a platform that simultaneously benefits HRs we have seen dozens of companies joining TransCrypts in the past few months as early users. TransCrypts is raising money to help grow our team so we can address the tremendous growth we have seen in the past few months, and to help convert our early users into paying customers. We chose Wefunder as the platform to raise this money because as a company that prides itself on democratization of information it would only be fitting to democratize access to our offering rather then just keeping it for the elite of the Silicon Valley. Highlights & TractionBeta testing with employees from over 30+ companiesUser growth at 40% since the start of 2021Winner of one of the most prestigious business competitions in the world, the Silicon Valley Business Plan CompetitionList of advisors include professor of blockchain technology (Ahmed Banafa) and Young Han(Serial Entrepreneur) ProblemEvery year human resource departments around the country are overwhelmed with phone calls and emails from background check companies, lenders, and government organizations requesting to verify the information of their current or past employees. For example, a bank may call an applicant's place of employment to verify their current employment and income status, or a court may request an income verification document to help decide child support payment.Just in the US alone HRs spend 150M Man-hours responding to these verification requests. This amounts to 4.5 B dollars in excess labor costs to employers.A lot of HRs time is used up making sure each verification request is compliant with the Fair Credit Reporting act, a federal law that dictates the compliance behind issuing employment and income verification documents.Because of the time it takes and potential liability many HRs outsource this responsibility to third party companies, like Equifax and HireRight. However, these companies are expensive, have major data privacy and security issues, and none of them offer a solution that fully automates the verification issuance process for HRs.We saw an opportunity to address these inefficiencies in our competitors' approach by the recent maturation of blockchain technology. That is why we decided to launch TransCrypts to bring a new technology to an industry that has seen little to no innovation in the past decade.Our Proprietary SolutionAt TransCrypts our process allows us to fully automate the issuance of employment and income verification forms for our HR clientele. The value we provide to our HR partners is time savings - in never having to manually respond to a verification request again and elimination of any compliance related headache. We are the only solution on the market that fully does both these things, and we accomplish it by our simple 4 step process that takes less than 15 minutes to set up.1)IntegrateThe first step in our process is we integrate with our customer's existing human resource databases like ADP, Namely, or BambooHR. Companies can download our solution directly from these HR software providers' official marketplaces. Thus, setting up the integration with their databases would be as simple as downloading an app. Using the information stored on these databases we create employment and income verification documents. Of course, we also have the option to skip integrating all together as employers can manually upload and issue credentials.2)IssueAfter integrating our program, we create these income and employment verification forms and issue them directly to the employee’s email. This issuance will occur on a monthly basis, so each employee has access to up-to-date information about their employment and income status. Aside from just their emails, employees will be able to access their documents through our portal at Transcrypts.com3) ShareAfter the verification document is issued to the employee, the employee can then share this information with any third party instantaneously. The employee has the option to share the document via a link, email or QR code. Ultimately, the goal will be that an employee could link their employment and income verification forms directly to a loan application, lease, or background check thus greatly reducing the time it takes to verify this information.4) VerifyAn important part of this whole process is for third parties to see if the document being shared with them is authentic. Any document shared via our network can easily be verified by the document’s URL link, its transaction id, or by its hash. All a verifier needs to do is to take that information and go to http://portal.transcrypts.com/searchCertificate and put it in a search bar as seen below.Upon providing the appropriate information a verifier will get a page like this, showing who sent the document, the contents of the document, when the document was sent, and to whom the document was sent to as seen below.Revenue ModelWe are a B2B SAAS business. Our average sales cycle is 6-8 weeks and our target customer base is companies with over 40 employees. At around the 40-employee mark is when the burden on HRs to issue verification documents and handle the compliance behind each verification request starts to become cumbersome. Therefore, we have noticed that companies with a headcount over 40 plus employees are the ideal candidate for theOur PlanBig corporations are extremely unforgiving. As a completely new technology in our market, blockchain & smart contracts were largely unproven. We needed to build trust with our corporate clients as well as hone in on the deficiencies in our product and the technology. This was the reason behind why we have elected to extend our open beta until the end of July 2021. Upon the conclusion of our open beta, we intend to convert our beta users into paid clients From there we aim to reach to more and more human resource departments and grow in this vertical. However, our long-term plan is to bring our technology to different verticals and document types like medical records, legal documentation, and education history.Questions?Transparency is a defining principle at TransCrypts. If you have questions about our company feel free to send either Zain (CEO) or Ali (CTO) an email and we would love to talk with youInvest in a Future of Data Ownership. Invest in TransCrypts

## FAQ
1. **Hello, does your product meet the requirements of the eIDAS Regulation of the EU?**
   - Hi Peter, That is a great question! Our product is both eIDAS and ESIGN compliant and meets the requirements for digital signatures in the United States, Canada, and the European Union.
2. **So much to like, I'm already in a little but contemplating doing more. My biggest question is about your IP and how it both gives you a moat and opens up licensing opportunities. Of course you don't want to give too much away, but I don't know enough about blockchain to proper...**
   - Hi Alan, Thank you so much for your support! IP has been a huge focus for us. As one of first companies utilizing blockchain technology in this domain we realized the importance to build an IP moat against future competitors. What we did was partner with Wilson Sonsini, one of the largest law firms in the country, and just looked at all the ways blockchain could be utilized in sending verifiable digital documents. That is when we went in and just build a patent wall protecting our product and...
3. **Could you elaborate on the type of partnership with ADP? Are they currently using it for a subset of their users?**
   - Hi Omar! Our partnership with ADP allows TransCrypts to be featured on ADP's official marketplace. This gives us great brand exposure to the thousands of human resource departments that utilize ADP and also allows them to easily integrate their HR databases with TransCrypts. As to answer your second question. ADP does recommend our product to a select subset of their users based on their needs, geographic location, and headcount. This has been a great source of lead generation for us and thro...
4. **1. What prevents the employee from altering the Transcrypts document? 2. Why would entities seeking verification ask the employee for the documentation instead of going directly to the employer which negates the benefit of this product? 3. Doesn't the requesting entity have to...**
   - Hi Michael, Those are some fantastic questions! To answer your first question, employees cannot alter documents on TransCrypts because these documents are stored on our blockchain/IPFS network and not on their personal devices. What we do is link the unique IPFS address of the document to the blockchain, which gives employees the ability to share and view their documents but restricts them from making any sort of altercations to the contents of the document. Another way to think about how our...
5. **1. What was Ali Zaheer's consultancy firm that provided blockchain services and was later sold to Teller? I can't seem to find it described anywhere or on the LinkedIn printout. 2. Who is your perceived competition in this space including startups and already established playe...**
   - Hi Jeffery! Thank you for your questions. The name of Ali's consultancy firm was called MAH consultancy(abbreviation of the 3 original founders) and his company provided blockchain and crypto consultancy for companies based in Canada and the US. He sold his company to a Toronto based consultancy firm called Teller in 2017, and left soon after the acquisition was complete. There are quite a few competitors in this space. Existing verification providers such as Equifax and HireRight are some of...

## Team
- Zain Zaidi (Founder & Chief Executive Officer)
- Ali Zaheer (Founder & Chief Technology Officer)

## Q&A
- Q: So much to like, I'm already in a little but contemplating doing more. My biggest question is about your IP and how it both gives you a moat and opens up licensing opportunities. Of course you don't want to give too much away, but I don't know enough about blockchain to properly vet the power of your IP. Can you use an analogy or otherwise somehow express how your IP prevents others from coming up with a similar solution? What would they not be able to do, or not do as well? My other question is about runway - you do a nice job at laying out your expenses and how they can be covered going forward, but it's mostly related to the minimum being raised here and you may do quite a bit better than that. Are you planning to raise more in 12-18 months no matter what because whatever you raise will go into growth and expansion (not necessarily a bad thing!), or is there a range of success here where you'd not have to raise, or at least be able to put it off? Thanks!
  - A: Hi Alan, Thank you so much for your support! IP has been a huge focus for us. As one of first companies utilizing blockchain technology in this domain we realized the importance to build an IP moat against future competitors. What we did was partner with Wilson Sonsini, one of the largest law firms in the country, and just looked at all the ways blockchain could be utilized in sending verifiable digital documents. That is when we went in and just build a patent wall protecting our product and potential future products in the employment/income verification space but also in adjacent verticals where documents serve a crucial role like the education, medical, and legal industry. We then proceeded to take it a step further, and analyzed any necessary features to make this product viable and went ahead and patented that as well. Whatever we could not patent we ensured that we had copyright protection. Our main goal was to make life as hard as possible for any future competitors so that if anyone wants to send digital documents through the blockchain they would need a license from us first. As for our runway that is a great question! We aim to raise more money in 18 months regardless of how much we raise on our Wefunder campaign. Any extra capital we raise will be used for growth and expansion or be kept aside as reserves. The market for startups is incredibly hot right now and I think it would be financially prudent to raise a little extra money now or in the next 12-18 months than to be caught needing capital when the economy eventually cools off.
- Q: Heads up that I'm getting a "your connection is not private" warning from your website via chrome. How is everything going? Saw that the overall round was $1.3M via crunchbase, congrats!
  - A: Hi John! Thank you for the warning, we are actually redesigning the TransCrypts portal and once we do that will upload a new SSL certificates(which will remove that warning). Also thank you! Would not have been possible without you & all of our other Wefunder investors
- Q: Is $2.5 Billion market opportunity the same as TAM? If so, how much of that can you get in 3-5 years?
  - A: Yeah it is. This is our market opportunity just in the income and employment verification space and does not include the other type of verifications we will be adding on to. Our goal for 2022 is 3 million in revenue, 2023 11 million and 2024 28.5 million. These estimates are based off of our current traction and are just for our employment/income verification tool.
- Q: This almost seems to me like one of those "build it and they will come" type of deals that everyone will use one day. I hope you will execute it well and turn this into an unicorn quickly. Do you plan to grow this and stick with it, or sell this and move on to some other great ideas you might already have?
  - A: Hi Vilem, Thank you for the question! Currently our only focus is to make TransCrypts as big as possible. The goal is to make TransCrypts reach ubiquity within the verification market, in the next few years. Even though, like yourself, we believe that one day the product we are offering will be commonly used throughout various industries, the road to getting there will require some work. For us, it’s really important that we continuously create strategic partnerships with big name employers, like the ones we are already in talks with Zoom, Spirit and Urban Outfitters, and more. Thereby, increasing our user base month over month. This will help us initiate that snowball effect which you were alluding to. This also means we are continuously customizing, developing and adding features to our platform, that our clients request. With all this work cut out for us, our only focus as of right now is growing the company and making sure TransCrypts reaches its full potential, helping to maximize our investor’s ROI.
- Q: I understand that the hash is a secure ID, but if anyone with the hash can view the document for verification on the website, how is the employee's personal data kept secure? Is the hash unique to each verification (only able to be used once)? Or, could someone potentially share that hash with other unauthorized users allowing them to view the document?
  - A: Hi Brian! That's a great question. One of my favorite features about our platform is our document privacy settings. Our users have two options, they can either make a document public or private. A public document can be looked at and verified by anyone provided they know the document's hash or URL. A user can also make a document private which means only people that user invites can look at and verify the document. These invitations can always be rescinded. So let's say you share a private employment verification document with a landlord and after the landlord has verified that information you can rescind the landlord's access to your document so they can't view it anymore. This way the individual maintains full control over access to their information on our platform and removes any potential for unauthorized access to it.
- Q: Hello, does your product meet the requirements of the eIDAS Regulation of the EU?
  - A: Hi Peter, That is a great question! Our product is both eIDAS and ESIGN compliant and meets the requirements for digital signatures in the United States, Canada, and the European Union.
- Q: Will you have a reseller partner program?
  - A: Hi Brian, no not at this time. We may add one in the future though.
- Q: In one of your latest updates, you mentioned that you have successfully secured your first sales contract. Will more details on that be revealed here or will we get to find out more about that on the upcoming StartEngine raise?
  - A: Yes that is the plan. We will also be sending out an update to all of our investors via email regarding our traction on a quarterly basis so details will be in that email as well.
- Q: Are you open to collaborating with other blockchain based projects? If so, who would we need to contact to begin exploring such a collaboration?
  - A: Sure! You can reach out to me directly via my email zain@transcrypts.com
- Q: I just invested; thanks for extending the $6M cap!
  - A: Thank you for your support!
- Q: Your form C says only the first $100,000 invested will qualify for the $6M valuation cap, but the page currently shows $137k+ raised and still shows a $6M valuation cap. If I invest now, will I get the $6M cap or an $8M cap?
  - A: Hi Leonard! We extended the 6M valuation cap for a few more days because many of our existing investors wanted to double down on their existing investments. So to answer your question, if you were to invest right now you would still qualify for the 6M valuation. Thanks!
- Q: Love what you guys are doing! Can we jump on a call?
  - A: Hi Raymond, Sure thing! I will shoot you a message on your LinkedIn and we can schedule a call there. Looking forward to talking soon!
- Q: Do you plan to issue your own crypto token?
  - A: Hi Quang, Thank you for your question! Technically speaking, any document that exists on our blockchain network acts like a crypto token, in other words it is an asset on the blockchain that can be transferred, shared, revoked, and verified. So, in this way we have already developed a very specific type of token or asset for our blockchain. If you meant a crypto currency type of asset, We have no plans we can share publicly at the moment regarding a TransCrypt cryptocurrency. However we are constantly looking at ways of improving our service and are working closely with our clients to best address their needs. With that in mind there have been a few use cases where we see a cryptocurrency being beneficial to our customers user experience and are looking to innovate in those areas. Since we are still in the early stages of that process we do not want to release any information that might compromise future IP
- Q: 1. What was Ali Zaheer's consultancy firm that provided blockchain services and was later sold to Teller? I can't seem to find it described anywhere or on the LinkedIn printout. 2. Who is your perceived competition in this space including startups and already established players who may potentially try to enter this space. Thanks!
  - A: Hi Jeffery! Thank you for your questions. The name of Ali's consultancy firm was called MAH consultancy(abbreviation of the 3 original founders) and his company provided blockchain and crypto consultancy for companies based in Canada and the US. He sold his company to a Toronto based consultancy firm called Teller in 2017, and left soon after the acquisition was complete. There are quite a few competitors in this space. Existing verification providers such as Equifax and HireRight are some of the largest employment and income verification providers in the country, and are our primary legacy competitors. In the startup space, our primary competitor is Truwork a company that has received tons of traction and funding over the past few years. However, we believe our product is superior than theirs because we offer full automation for the issuance of employment and income verification documents while their solution provides only partial automation. Internationally, there is a startup called Aversafe based in Vietnam that is also coming up with a blockchain based solution for credential verification but their market is limited solely to Southeast Asia. Ultimately, while there is competition in our space from startups and legacy companies alike, we have a proprietary solution that we believe is slowly starting to achieve product-market fit. Please read our FAQ page for more detail on how we differentiate from our competitors.
- Q: 1. What prevents the employee from altering the Transcrypts document? 2. Why would entities seeking verification ask the employee for the documentation instead of going directly to the employer which negates the benefit of this product? 3. Doesn't the requesting entity have to be familiar with Transcrypts in order to trust the information?
  - A: Hi Michael, Those are some fantastic questions! To answer your first question, employees cannot alter documents on TransCrypts because these documents are stored on our blockchain/IPFS network and not on their personal devices. What we do is link the unique IPFS address of the document to the blockchain, which gives employees the ability to share and view their documents but restricts them from making any sort of altercations to the contents of the document. Another way to think about how our system works is that 'verified documents' act like a transaction between the issuer and the receiver, and there is no way to actually edit the documents. The issuer would need to reissue files/documents for changes. To answer your second question, TransCrypts vision is that individuals can provide verified information at the time of their application. With TransCrypts verifiers (requesting entity) would immediately have access to an applicants verified documentation/data, saving them time and money, instead of going through the whole background and verification check with 3rd parties. Finally, yes the requesting entity would have to be familiar with TransCrypts and our underlying technology. On every single one of our documents, we attach verification instructions on how someone can verify the document as well as putting it on our website. Educating organizations on who we are and our technology can be trusted is a top priority of ours. As a startup working on a emerging technology this can prove to be challenging. However what we have noticed is that because this is such pain point for so many organizations, that many companies are willing to learn why they can trust us and our blockchain network.