Masan Group’s Subsidiary Invests US$105 Million in Singapore’s Trust IQby Fintech News Vietnam February 13, 2023
Vietnamese conglomerate Masan Group’s subsidiary the Sherpa Company has received the green light to invest US$105 million in Singapore’s tech company Trust IQ, the holding company of Trusting Social.
The announcement of Masan’s investment was made in April 2022.
Sherpa will hold a 25 percent stake in Trust IQ through this investment.
Trust IQ is primarily involved in software development, technology and applications on a global scale, which includes the development of comprehensive, accurate credit risk assessment methods based on AI technology.
Masan will also be collaborating with Trust IQ to build platforms for consumer and retail artificial intelligence (AI) as well as accelerate its application within its organisation.
Both entities will be developing a loyalty programme that uses AI and machine learning (ML) technologies in the consumer sector as well as and build a credit scoring system that does not require proof of income for credit card issuance.