![Daniel Bilbao, CEO and founder of Truora. (Photo Courtesy)](/sites/default/files/2025-01/DANIEL%20BILBAO.jpg)
The entrepreneur who wants to conquer the U.S. market with digital security
Daniel Bilbao is one of the founders of Truora, company with operations in Colombia, Mexico, Chile and Brazil. His services: digital security and technology.
In 2018, a group of young enthusiasts led by Daniel Bilbao, Maite Muñiz, David Cuadrado and César Pino founded Truora, a startup focused on transforming digital security and business process efficiency.
Based in Colombia, this company was born with the purpose of addressing digital trust challenges in emerging markets. Since its inception, the firm has stood out for offering solutions such as background checks, digital authentication tools and chatbots integrated into popular platforms such as WhatsApp. Its focus on digital transformation and fraud prevention has positioned it as one of the most promising startups in Latin America, according to Forbes magazine.
Today, Truora not only operates in Colombia, but also has operations in Mexico, Brazil and Chile. What is new now, according to Daniel Bilbao, is that they have their sights set on expanding into the United States. This team of founders, with a global vision but with Latin roots, has shown that it is possible to compete in international markets while fostering regional talent. According to Bilbao, "we want to demonstrate that it is possible from Latin America to create global companies so that others are encouraged to enter this market".
The results have been accompanying the initiative. 2024 was a year of significant achievements for Truora, which reached a 60% growth in revenues, from US$10 million to US$16 million. This milestone marks not only a financial breakthrough, but also the consolidation of its business model in Latin America, because the break-even point was already reached.
"All our products are doing well, but WhatsApp is the fastest growing," shared Bilbao during an interview with Al Dia News. In 2024, revenues came mainly from three business lines: digital signature, which generated more than US$6 million; digital identity, also with more than US$6 million; and WhatsApp-based solutions, which, although generating lower revenues for now, represent the line with the greatest growth potential.
Bilbao explained that he is very confident in the nature of Truora's success, because while it is very effective in offering security services in sensitive processes for companies, the firm is also helping its clients to convert.
For example, for a bank, they are able to design a solution to offer credit cards through a "click to WhatsApp" system. This integrates artificial intelligence to define the appropriate product, validates the customer's identity, performs a background study, delivers the contract for digital signature and concludes the acquisition process. They are doing the same with a telecommunications company in Chile, where they accelerate the process of securely acquiring a new cell phone in less than 15 minutes.
Expansion and opportunities in AI
2025 looks like a year full of opportunities for Truora, with a particular focus on two strategic markets: Mexico and the United States. In the case of Mexico, the company seeks to consolidate its position as a leader in digital solutions. Meanwhile, in the United States, they are exploring the potential of innovative tools such as WhatsApp banking, a solution that could transform this platform into an "everything app", especially for the growing Latino community in the country.
Artificial intelligence also plays a crucial role in Truora's plans for 2025. The startup plans not only to enhance its current products with advanced AI capabilities, but also to develop new solutions based on this technology. In addition, AI represents an opportunity to attract global talent. Currently, Truora has a diverse team of 215 employees from countries such as El Salvador, Honduras, Colombia, Mexico, Chile, Argentina and Paraguay. This diversity is not only a key asset for innovation, but also a reflection of the company's commitment to Latin American talent.
For Bilbao, artificial intelligence is one of the most important technological revolutions of recent decades. "We have witnessed many changes: first the Internet, then mobile Internet with cell phones, then the social media revolution, and now AI. This is a completely revolutionary change," he says. The entrepreneur believes that AI is not only transforming industries, but also representing the biggest opportunity for entrepreneurs in the last 15 years.
Bilbao also has a personal view on the importance of the U.S. market. "I live here, my daughter was born here. The United States is very important to us," he shares. However, his vision transcends borders: Truora seeks to be an example to show that it is possible to build global companies from Latin America and compete in the world's largest markets.
Truora is not only leading a technological revolution in Latin America, but also paving the way for a new generation of entrepreneurs to enter the U.S. market.
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