# Trust IQ Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/trust-iq-pte

- Industry: Information Services
- Headquarters: Singapore, Singapore
- Website: www.trustingsocial.com
- Total disclosed funding: $28M
- Latest round: Series B (Jun 19, 2020)
- Investors on record: 5

## About

Based in Singapore, Trust IQ Pte. Ltd. is a financial technology firm specializing in AI-driven solutions for credit risk assessment and identity verification, primarily targeting the lending industry in emerging markets.Trust IQ Pte. Ltd. was founded in 2013 and operates out of Singapore. The company focuses on providing advanced credit risk assessment solutions and has raised a total of USD 65.00 mn in funding, with the most recent Series C round closed in April 2022, led by Sherpa. The founders include Nguyen Nguyen, Pniel Cohen, and Tuyen Huynh, and the current CEO is Johnny Escaler. The company has completed 6 deals to date.Trusting Social offers a comprehensive suite of AI-powered products focused on enhancing credit risk assessment, identity verification, and customer acquisition in the lending industry. The primary offerings include Trust Scores, which utilize big data and AI algorithms to generate alternative credit scores and fraud scores, enabling financial institutions to make informed lending decisions. Additionally, the Trust Vision solution facilitates digital onboarding of customers by employing advanced facial recognition and AI-based fraud detection, ensuring secure transactions. These services target underserved segments within Asia, specifically in countries such as India, Indonesia, and Vietnam, where Trusting Social has established partnerships with over 130 financial institutions. By innovating the digital lending experience, the company strives to serve approximately 3 billion underbanked consumers, processing over 120 billion records weekly to aid in their decision-making processes.In 2023, Trusting Social generated revenue of USD 18.11 mn, with an EBITDA of USD -33.41 mn. The company primarily earns revenue through partnerships with financial institutions that utilize its suite of technology solutions. Trusting Social supports more than a million borrowers monthly, contributing to approximately USD 800 mn in personal loans facilitated via its Smart Credit Acquisition strategy. Revenue is derived through licensing agreements or service subscriptions, where partners integrate Trusting Social’s proprietary systems into their operations. The flagship products, including the Trust Scores and Trust Vision solutions, represent key revenue streams, as they enable clients to enhance their operational efficiency and mitigate risks associated with lending to underserved populations.The company aims to utilize the USD 65 mn raised in the Series C funding round to further develop its system. Trust IQ Pte. Ltd. plans to expand its product offerings and enhance its technology to better serve its clients in the lending sector. Additionally, the company is focusing on expanding its market presence in Asia, particularly in regions with a high percentage of underbanked populations. Specific targets for expansion include India, Indonesia, and Vietnam, with ongoing developments expected to be rolled out in the next few years.

## Funding rounds

- Series B, Jun 19, 2020, $19M — Hong Shan, 500 Global, BEENEXT, Tanglin Venture Partners
- Seed, Nov 15, 2018 — Hong Shan, 500 Global, BEENEXT
- Series A, Jun 9, 2017, $9M — Hong Shan, BEENEXT
- Seed, Jun 21, 2016 — 500 Global
- Seed, Mar 30, 2015 — Kima Ventures

## Investors

- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed, Series B
- Hong Shan — Series A, Seed, Series B
- BEENEXT (https://capitalatlas.ai/funds/beenext) — Series A, Seed, Series B
- Tanglin Venture Partners (https://capitalatlas.ai/funds/tanglin-venture-partners) — Series B