Milbank LLP and YKVN advised Masan Group Corporation on the deal. Rajah & Tann Singapore assisted the Trusting Social Group.
Masan Group Corporation (“Masan”) announced its US$65 million investment in Trusting Social Company JSC, a Singapore and Vietnam-based credit scoring startup (“Trusting Social”). The investment marked the initial close of Trusting Social’s Series C funding round from the Sherpa Company Ltd, a subsidiary of Masan.
The partnership, which is expected to provide Masan with a cutting-edge AI and ML platform tailored for 100 million Vietnamese consumers, will allow it to accelerate its transition to e-commerce.
Masan is one of Vietnam’s largest private sector conglomerates operating in retail, branded food and beverage, consumer agriculture, financial services and high-tech materials.
Trusting Social delivers artificial intelligence (“AI”) and machine learning-led (“ML”) products to leading banks and finance companies, enabling them to provide consumption financing products to unbanked and underserved consumers at scale.
The Milbank deal team was led by Jacqueline Chan (Picture) and included associates Martin Wong and Stephanie Kam.
The YKVN team consisted of partner Nguyen Van Hai and counsel Ho Anh Tuyet.
The Rajah & Tann Singapore team was led by Partner Tracy Ang.