Daniel Bilbao, born in Colombia, is the current CEO of Truora, a Colombian platform founded in 2018 that aims to combat fraud across Latin America. Bilbao is one of four cofounders who built the company, which has grown rapidly and was recognized in 2025 by the Global Banking and Finance Review with the award “Excellence in Innovation – Digital Security and Identity Solutions South America 2025.”
Within its first year, Truora had acquired more than 100 clients and expanded into Peru, Chile, Mexico and other countries. The company validates backgrounds and verifies identities in seconds, giving partner companies improved safety and reliability. Uber and Rappi are among the firms that rely on its system.
Reserved and low-profile, Bilbao previously worked as an investment banker in the United States, participated in a Silicon Valley startup, and founded another company. He also completed his studies in the United States and spent years in both corporate and banking environments.
Although he has not founded a venture capital fund, Bilbao has supported more than 60 startups across Latin America. For this reason, he is widely recognized, and Truora has amplified that visibility.
“It’s Never Too Late to Become an Entrepreneur”
Bilbao says his entrepreneurial career began at age 33. Before that, he studied electronic engineering at the University of Los Andes in Colombia, then moved to the United States to pursue an MBA at Dartmouth.
After finishing his studies and settling into American life, he worked in investment banking in New York and later joined a startup in Silicon Valley, the well-known hub for emerging technology companies. At age 33, he founded his first company and remarked that “it’s never too late to become an entrepreneur.”
Although he did not grow up in an entrepreneurial family, his brother is one of the cofounders of Rappi, the Colombian multinational delivery platform.
Aligned with his own ventures, Bilbao insists that entrepreneurs must “surround themselves with other entrepreneurs.” He describes it as “very positive” and believes that sharing space with people on the same path is essential. He also highlights “inspiration” as a key factor for identifying new opportunities.
Regarding Truora and his experience in Silicon Valley, Bilbao emphasized that entrepreneurs must “work as a team,” adding that “we are all trying to grow, and there is room for everyone.” He describes entrepreneurship as an ecosystem in which progress is collective.
Recognition for Truora: What Did Bilbao Say?
The company dedicated to preventing fraud in Latin America was recently awarded for its work, and Bilbao expressed his “commitment” to strengthening digital security in the region. He added that the company continues “developing technologies that enable reliable and accessible authentication processes for businesses and users.”
It is no surprise that Uber or Rappi turned to Truora due to issues such as identity falsification among new workers—one of the many problems Truora identified. The company also investigates credit card cloning as another challenge to address. Data verification remains a core operation.
Several outlets have noted that the award positions Truora as a leader in digital security. In June 2025, the company InDrive partnered with Truora to reinforce identity verification and regional safety.
“This collaboration with Truora optimizes the identity verification process and reinforces our commitment to ensuring every ride is safe and reliable,” stated InDrive in its announcement. Truora now works with clients ranging from Rappi and Uber to InDrive and many others.
The Colombian project has expanded rapidly throughout Latin America. Truora’s mission is to build trust-based relationships that ensure quality, convenience and safety for workers and users.
In addition to preventing fraud, Truora has implemented artificial intelligence systems to mitigate risks and strengthen digital security. Daniel Bilbao, one of the four cofounders, has become an effective and discreet leader in the region. With his extensive experience in the U.S. banking and tech ecosystem, he identified Latin America as a space full of opportunities.
