Trust Science Company Profile
Background
Mission and Vision
Trust Science is dedicated to enhancing financial inclusivity by providing innovative credit scoring solutions. Their mission is to deliver analytics that create trust insights, enabling deserving individuals to access fair credit. The company's vision is to foster a world where individuals receive the financial opportunities they deserve, focusing on credit scoring for underbanked populations.
Primary Area of Focus and Industry Significance
Established in 2014 and headquartered in Edmonton, Alberta, Canada, Trust Science operates within the financial technology (FinTech) sector. The company specializes in AI-powered alternative credit scoring solutions, addressing the needs of approximately 64 million U.S. consumers with limited or no credit history. By leveraging alternative data sources, Trust Science aims to provide more accurate and inclusive credit assessments, thereby enhancing financial inclusion.
Key Strategic Focus
Core Objectives
Trust Science's primary objective is to revolutionize credit scoring by integrating traditional, alternative, and proprietary data sources. This approach enables lenders to identify and assess borrowers who might be overlooked by conventional credit scoring methods. The company emphasizes the importance of financial inclusion, aiming to provide fair credit access to underserved populations.
Specific Areas of Specialization
The company specializes in:
- Alternative Credit Scoring: Utilizing non-traditional data sources to assess creditworthiness.
- AI and Machine Learning: Employing advanced algorithms to analyze complex datasets for more accurate credit assessments.
- Financial Inclusion: Focusing on providing credit solutions to underbanked and underserved communities.
Key Technologies Utilized
Trust Science employs several proprietary technologies, including:
- Credit Bureau+™: A platform that integrates real-time credit data from various sources to provide comprehensive borrower profiles.
- Six°Score™: An AI-driven credit scoring model that combines traditional and alternative data to assess creditworthiness.
- CashFlow+™: A tool that analyzes income patterns and financial behavior to offer actionable insights into a borrower's financial reliability.
Primary Markets Targeted
Trust Science primarily targets:
- Lenders and Financial Institutions: Providing tools to enhance credit decision-making processes.
- Underbanked and Underserved Consumers: Offering credit solutions to individuals with limited or no traditional credit history.
Financials and Funding
Funding History
As of June 2025, Trust Science has raised a total of $59.83 million across multiple funding rounds. The most recent funding round was an Angel - IV round, raising $1.75 million on June 1, 2025.
Notable Investors
While specific investor names are not publicly disclosed, the company has attracted significant investment, indicating strong confidence in its business model and growth potential.
Utilization of Capital
The capital raised is intended to support:
- Product Development: Enhancing existing platforms and developing new solutions.
- Market Expansion: Entering new markets and increasing the company's global footprint.
- Operational Scaling: Strengthening infrastructure to support growing customer demands.
Pipeline Development
Key Pipeline Candidates
Trust Science's primary offerings include:
- Credit Bureau+™: A platform that provides real-time, comprehensive credit data from various sources.
- Six°Score™: An AI-driven credit scoring model that integrates traditional and alternative data.
- CashFlow+™: A tool that delivers insights into income patterns and financial behavior.
Stages of Development
These products are in active deployment, with continuous updates and enhancements to improve accuracy and user experience.
Target Conditions
The solutions are designed to address challenges in credit assessment, particularly for individuals with limited or no traditional credit history.
Anticipated Milestones
Trust Science aims to expand its customer base, enhance product capabilities, and increase market penetration in the coming years.
Technological Platform and Innovation
Proprietary Technologies
Trust Science's proprietary technologies include:
- Credit Bureau+™: Integrates real-time credit data from traditional, alternative, and proprietary sources.
- Six°Score™: An AI-driven credit scoring model that combines various data sources for comprehensive assessments.
- CashFlow+™: Analyzes income patterns and financial behavior to provide actionable insights.
Significant Scientific Methods
The company employs advanced AI and machine learning algorithms to process and analyze complex datasets, enabling more accurate and inclusive credit assessments.
AI-Driven Capabilities
Trust Science's AI-driven capabilities allow for the identification of "Invisible Prime" borrowers—individuals who are creditworthy but often overlooked by traditional credit scoring systems.
Leadership Team
Key Executives
- Evan Chrapko: Founder, Chairman, and CEO. Evan has a background as a serial technology entrepreneur specializing in industry disruption and has delivered over $1/2B in shareholder gains.
- Reid Morrison: Chief Technology Officer. Reid brings extensive experience in technology leadership and innovation.
- Martin Loeffler: Chief Security & Privacy Officer. Martin is responsible for overseeing the company's security and privacy strategies.
- Mylee Vigness: Chief Growth Officer. Mylee focuses on driving the company's growth initiatives and market expansion.
- Mark Rodrieg: General Counsel. Mark provides legal guidance and ensures compliance with relevant regulations.
Leadership Changes
In 2022, Trust Science added FinTech veteran Reid Morrison as Chief Technology Officer, strengthening its leadership team.
Competitor Profile
Market Insights and Dynamics
The FinTech sector, particularly in alternative credit scoring, is experiencing significant growth. With a substantial portion of consumers lacking traditional credit histories, there is an increasing demand for innovative credit assessment solutions.
Competitor Analysis
Key competitors include:
- Zest AI: Provides AI-driven credit underwriting software.
- Nova Credit: Focuses on consumer credit data solutions.
- Alchemy Technologies: Offers alternative credit scoring solutions.
Strategic Collaborations and Partnerships
Trust Science has formed strategic partnerships to enhance its offerings and expand its market reach. For instance, in 2024, Trust Science partnered with Conecta to help finance companies find 'Invisible Prime' prospects.
Operational Insights
Trust Science differentiates itself through its proprietary technologies and focus on financial inclusion, providing lenders with tools to assess a broader range of borrowers accurately.
Strategic Opportunities and Future Directions
The company aims to expand its product suite, enter new markets, and continue to innovate in credit assessment to serve a wider range of consumers.
