Synnax, a pioneer in AI-driven credit rating standards for the digital asset industry, has announced the successful closure of a USD$1 million Pre-Seed funding round, led by No Limit Holdings.
The round also included participation from leading global investors: Edessa Capital, Kenetic Capital, Bitscale, Ryze Capital, MH Ventures, Hex Trust, Moonvault, GameFi Ventures, Typhon Ventures, Ausvic Capital, Drops Ventures, and Everstake Ventures, who share Synnax’s commitment to advancing intelligent Web3 financial infrastructure.
The investment enables Synnax to propel the development of its innovative AI-driven credit intelligence platform as it works to address the requirement for an unbiased credit rating standard across digital asset markets and facilitate the on-chain migration of the USD$100 trillion conventional private credit market.
Transforming Credit Markets with Greater Transparency and Efficiency
Existing credit rating systems suffer from a lack of transparency, conflicts of interest, susceptibility to manipulation and bias, inadequate data privacy protection, and lack of a forward-looking perspective. Synnax is poised to address these long-standing issues by introducing the groundbreaking concept of credit intelligence.
Synnax’s technology and data-driven concept include a secure platform for debt issuers to confidentially share data, utilising state-of-the-art encryption technology. This data is then processed by a decentralised network of AI models, developed by independent, incentivized data scientists.
These experts are driven to develop superior predictive models that integrate both encrypted and public data. Model outputs are aggregated to generate unbiased, consensus-based credit ratings and real-time, forward-looking credit intelligence.
Introducing the Founders Behind Synnax
Synnax was established in Dubai in 2023 by Founders Robert Alcorn, Dario Capodici, and Alessio Quaglini, who bring over a decade of experience in digital assets (Hex Trust, Clearpool) as well as extensive backgrounds in traditional finance (Citi Group, First Abu Dhabi Bank, Credit Agricole, Deutsche Bank). Together, they identified a critical need for a universally acknowledged credit rating standard within the digital asset industry.
“We saw there was major demand across private credit markets for a rating standard that is impartial, secure, and forward-looking. Synnax addresses this by serving a broader array of capital market participants within private and public sectors, both off-chain and on-chain. In the process, it will not only emerge as a global standard for credit ratings and underwriting but also advance a new era of technologically-driven credit intelligence.” – Robert Alcorn, CEO & Co-Founder, Synnax
“No Limit Holdings has a fundamental conviction that an incentivized network of decentralized AI models will dramatically enhance all aspects of traditional finance. Synnax incorporates this method and is building a platform for the debt issuance market that will benefit both borrowers and lenders. This has the potential to grow the entire SMB loan industry worldwide.” – Anatoly Kondiyakov, Partner, No Limit Holdings
For a deeper understanding of Synnax’s approach, we invite interested parties to visit www.synnax.ai.
About Synnax
Synnax is a protocol that aggregates credit intelligence and generates impartial and forward-looking credit ratings using a decentralised consensus model. By leveraging advanced encryption technology, Synnax ensures that rating-seeking entities maintain data privacy while sharing information with a decentralised and independent network of data scientists. Data scientists are incentivised to build, train, and continuously improve machine learning models, which infer on encrypted data, and produce outputs that are aggregated to generate consensus credit ratings and credit intelligence. Based on forward-looking probabilities of default and predictive financial ratios, the ratings can be frequently updated and produced for borrowing entities of any type.
Synnax employs a blockchain-enabled process to ensure transparency, promote scalability, and offer lucrative participation incentives through a token-based model.
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