Points (PTS), a Singapore-based scalable blockchain data collaboration protocol for better credit scoring and inclusive finance, raised $8m in funding.
Backers included DHVC, Cherubic Ventures, Ce Yuan, Ontology Foundation, Nest.Bio Ventures, and Zhong Cheng Xin Credit Technology.
Co-Founded in 2017 by Sarah Zhang, and Kate Shen, Points uses blockchain technology and AI to develop a secure and configurable protocol that encourages entities, including banks, institutions, tech companies and consumers to participate in sharing their proprietary data for improved credit scoring and inclusive finance, providing the unbanked with access to fair financial services.
Built on the blockchain, Points is enhanced by AI that is trained on data from 500 million credit profiles, contributed by partners including Zhong Cheng Xin Credit Technology Ltd. and Teleinfo, a subsidiary of the Ministry of Industry and Information Technology (MIIT).
The company also has offices in Beijing and San Francisco.