Truss

Truss, previously operating under the name MazumaGo, is a fintech entity located in Victoria and Vancouver, BC, Canada, and also offers remote services. The company, which participated in the Y-Combinator S21 batch, employs a team of 12 and operates primarily within the sub-industry of banking and exchange. Truss provides a range of financial services tailored specifically for the construction sector. These services include business checking accounts with no fees or minimums and enhanced FDIC insurance up to $2,500,000 through the Thread Bank deposit sweep program. Truss also offers a platform that allows for the fast collection of payments via ACH and card payments online at no cost, and the issuance of unlimited staff cards that facilitate rewards earning and simplify expense management. Additionally, the company enables quick online payments to subcontractors, providing them instant access to funds, and integrates with accounting systems to automate processes from invoice creation to reconciliation. The Truss Visa Card, issued by Thread Bank under a license from Visa U.S.A. Inc., is accepted globally wherever Visa cards are used. Truss has also partnered with Thread Bank to enhance its banking solutions, focusing on adding value for construction companies through various financial strategies and digital solutions. The company emphasizes the importance of technology in construction, discussing topics such as lean construction, construction bonds, and invoice factoring to improve cash flow and project efficiency.