A conversation with TRUSS’ CEO, Woody Lello.

Please tell us what TRUSS does in one sentence.

TRUSS is building the digital backbone for the future of fashion resale.

What inspired you to start TRUSS?

Our team met at Warwick University, and we have a shared interest in thrifted fashion. TRUSS has grown alongside the evolution of resale, from platforms like eBay to Depop, StockX and beyond. Along the way, we’ve built inventory management systems for charities and consumer-facing apps – all focused on the fashion resale industry.

Through this journey, we realized that many of the industry's inefficiencies stem from a single issue: bad or incomplete product data. TRUSS is on a mission to change that. We aim to level the playing field and make resale the easy choice by providing everyone with transparent, accurate information about secondhand products.

The data issue has a huge impact on the efficiency of listing products online, product searchability and conversion rates. Each product is one-of-one and the underlying information infrastructure needed to make resale profitable is fragmented, unstructured and unavailable.

How is TRUSS solving this data issue for its customers?

For years, TRUSS has been working to fill critical data gaps for fashion's forgotten products. We've developed a range of use cases spanning fashion resale, machine learning and logistics, all centred around our data capabilities.

While each use case delivers value on its own, we use AI and advanced tools to unite them under a single, comprehensive product profile. This profile consolidates all information about a product – from where it's listed online to how people search for it – forming a highly advanced system. We are building millions of these product profiles so that every time a business needs information about any given fashion good, they can rely on TRUSS.

Our ultimate goal is to establish the foundational data infrastructure for resale and commerce.

What has been your greatest achievement since starting TRUSS?

Helping to power one of the world's largest and most forward-thinking retail businesses.

What has been the biggest challenge since starting TRUSS?

For me personally, the biggest challenge has been refining our vision. The data gaps we talk about impact different businesses in slightly different ways. At first, it felt like we couldn’t address all their challenges. But then we had an “aha” moment – we realized that these issues all stem from the same root cause. What TRUSS could uniquely supply was data, and that data solves the problems. We just have to ensure that the information is structured and available for these applications. That clarity has now shaped everything we do.

What is TRUSS doing to drive positive environmental or social change in the consumer sector?

Ultimately, TRUSS aims to bring the same level of clarity and efficiency to resale as traditional retail. By doing so, we can help make the rapidly growing circular fashion economy both efficient and profitable.

Today, the market is largely dominated by a few major players and not-for-profits. We believe our infrastructure will be a game-changer, breaking down barriers and opening up access for businesses of all sizes. Those without access to venture funding are struggling. The first business we ever worked with has gone out of business due to the inefficiencies of dealing with manual data entry for every single product that comes through the door.

How will FIGR’s investment help TRUSS?

To power TRUSS, we organize, process, and validate hundreds of thousands of listings daily. With this challenge in mind, TRUSS secured a £1.1m Innovate UK Grant to develop an advanced algorithm that optimizes these processes.

This project is a collaboration with the University of Warwick, Depop and Selfridges. FIGR’s investment provided the critical match-funding needed to make it possible. Our algorithm has already surpassed industry-standard benchmarks, marking a significant step forward in transforming the resale market.

FIGR has been an incredible investment partner for TRUSS, providing critical match-funding and invaluable support. Their dedication and belief in our mission have been instrumental in advancing our technology and driving innovation forward, supporting TRUSS' long-term aims.

How have you found working with FIGR so far?

FIGR has provided a personal touch that’s rare in the VC world. I immediately recognized that their approach was different – they were the only VC to ask to meet the entire team before making an investment. This thoughtful, hands-on approach set them apart and gave us confidence in their commitment to our vision.