Masan Group to invest $105 million in Singapore’s Trust IQ

With the deal, The Sherpa would own up to 9.388.756 shares of the company. The investment registration certificate was awarded during the Business Forum within the framework of Prime Minister Pham Minh Chinh's official visit to Singapore.

The investment is part of Masan's strategic goal by 2025 to create a Consumer - Retail - Technology ecosystem capable of capturing 80% of Vietnamese consumers’ wallet, Masan said in a statement to local media.

Masan has been actively optimizing the ecosystem by integrating strategic pieces such as financial services, banking, insurance, healthcare, entertainment, etc. into a wide network of points of sale and digital technology and artificial intelligence platform.

Masan and The Sherpa will work together to build a platform of artificial intelligence in retail (Retail AI), and artificial intelligence in consumption (Consumer AI) .

The group will apply and develop AI and ML technologies into the consumer sector, integrating offline to online contributing to an optimal O2O experience and minimizing consumption costs for the Vietnamese.

It will also build a credit access platform for consumers on the basis of loyalty program by issuing credit cards for mass consumers without requiring proof of income.

WinCommerce, the operator of WinMart/WinMart+/WIN retail chain, with a high-tech platform from The Sherpa will cooperate with domestic financial partners to drive new credit cards usage, towards the goal of universalization of credit access for Vietnamese people.