As Vietnam’s Masan Group doubles down on the credit-scoring startup Trusting Social, the diversified conglomerate sees the investment as key to unlocking the huge opportunity that lies in driving financial inclusion in the country.
On Feb. 10, Masan said it will pump $105 million into the Singapore-domiciled Trust IQ Pte. Ltd., the holding company of Trusting Social, for a 25% stake. That comes 10 months after Masan invested $65 million for an initial 25% interest in the local fintech firm, which utilises data and AI technology for credit scoring.