Like it risky? Sorry, BizBaz won't let that happen. This startup helps businesses reduce risk and know their customers better. Now, they've just raised a $4M seed round led by HSBC Asset Management to go even further.

• Over seven out of ten people in SEA's 680M population are unbanked or underbanked.

Investor check. Vynn Capital and SOSV, along with several angels also joined in.

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👇🏼 Here's the issue

Most financial institutions and fintechs use outdated systems to measure credit risk. (Most are just based on financial history, which unbanked people have little to none of.)

Instead, BizBaz analyzes all financial and non-financial data, with a mix of behavioral science, machine learning and anthropology! This way, they have a more complete and impactful way to measure risk for loans, insurance and financial services.

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🧠 They know you well

Maybe too well. They can analyze and assess an individual's social, financial and lifestyle data. 😱 Overall, BizBaz does complete risk assessments of both individuals and businesses.

• For individuals, they do customer profiling and scoring to understand your present and future behaviors. Oh, and e-KYC to verify identities too!
• For businesses (typically on SMEs), they do risk profiling, assessment and evaluation.

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🤷🏻‍♀️ But that's not a bad thing

With BizBaz, financial institutions can reduce costs and earn more — while giving unbanked customers access to products they need. How?

More customers. They can target and onboard new unbanked, underbanked and newly banked customers.

• Acquire up to 90% of the unbanked population in your country.
• With BizBaz's data, they can speed up applications by 3x.

Way less risk. Reduce up to 80% of risk. Plus, lower risk means lower costs and bad debts. (aka, more revenue!)

Upselling the right product. Understanding the customer well means you know exactly what they need — and can upsell them more products.

• BizBaz can recommend which financial product a customer might need: a loan, insurance, credit card, savings account or more.

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🔥 What's next?

They'll be developing new solutions and focusing on better supporting their growing client base of financial institutions in Asia, Africa and beyond.