Foley Represents Unico IDtech in Acquisition of Trully.AI

Foley & Lardner LLP represented Unico IDtech in its acquisition of Mexico-based startup Trully.AI. Unico is the leader in digital identity in Brazil, and this acquisition will allow them to expand their international operations in Latin America and beyond.

Trully focuses on simplifying the vetting process for companies by offering a comprehensive platform to verify the backgrounds of independent contractors. This service is crucial in industries where businesses rely on third-party workers and need a high level of trust and security in their hiring practice. The company will now be known as Trully by Unico.

Founded in 2007, Unico was valued after its latest Series D round in 2022 at over $2.5 billion.  The company has over 50 million identity authentication transactions per month, including access to banks, digital wallets, fintechs, retail, and e-commerce.

The Foley team was led by partner André Thiollier and included tax partner James Howard, as well as associates Talita Duarte and Wesley Choi.