The credit archives Traity to build a “network”, li ka-shing for refs


is a common developed European Seedcamp and 500 Startups in silicon valley Startups. The company just wanted to make people’s network credit evaluation system. At the beginning of eBay in the Internet bubble, because don’t want to open a credit evaluation system, missed the good opportunity. Today, the company is located in Madrid, Spain announced that, for $4.7 million in A round of investment, li ka-shing harbour venture capital participation in investment. Traity achieve its ambitions, just around the corner.

since early introduced through Facebook users, Traity has more than 4.5 million users. It is trying to solve a problem, now we’re trading with more and more strangers on the Internet, “but it’s hard to know whether to trust each other.” Traity co-founder and chief executive officer Juan said Cartagena.

this trend from the rise of collaborative consumption (i.e., sharing economy), it is a deal between strangers as the core of the market. Of course, any kind of deal is based on trust, such as financial services, it needs a definition of credibility to proceed.

register Traity user profile to create a rich content, mainly including three aspects: related to the credit status, behavior and guarantee.

“identity” is “who are you” the most intuitive way. Traity adopted, for example, in order to do this social network to verify (i.e., the connection and verify a user’s Facebook and other social networks accounts) and mobile authentication, after will have passport certification. At the same time it will require the user to record a period of 5 seconds long video to introduce yourself.

“behavior” is more objective. Cartagena, said to me Traity are trying to learn the user’s credibility by analysis of people’s social level, for example, the analysis of users on Twitter fans, made a similar “page rank”. If the system detects that your account has more than 5000 zombie powder, you may have a problem of personal credit. “The behavior” is another part of the content for users on social networks, interests and expertise. Reflect the information in the user’s Traity files, in order to make others you have a reference in evaluating your credit, the credit rating in real life the same.

in the end, the part of “guarantee” including you on eBay, or someone whose network site evaluation, but also have Traity with other agencies to provide guarantee for completing this information. All this information does not necessarily come from the network. Cartagena, for example, a blood donor can get corresponding blood bank guarantee. Guarantee can come from friends and colleagues. This can also understand why Traity to get millions of registered users. This also let a person think of LinkedIn recommendations, but the difference is that users can’t eliminate negative evaluation on Traity.

although Traity online credit aspects detailed and unified operation is popular with people, to let users trust so much personal data to a startup (or any other company) is it easy? For this, Cartagena, said transparency is critical. Especially want to let the user know the service will adopt the way of how to render the data, another more important is how to deal with data.

he once again stressed the Traity is not to give everyone a credit score (for example black box credit score), but in the form of open, open the personal credit information, so that others can to make their own judgment. “We are very understand, can’t simply hastily score for the rest.” He said, “must pass the relevant information to understand a person’s credit. We are subjective animals, so can understand different people in different ways of credit standing.”

but this way may cause a bigger problem: persuade Traity apis are used by other service providers, make it become the real standard. This is especially important, because it can let users in the third party trading platform credit feedback to their Traity files. Otherwise everyone who also use this service? !

Cartagena acknowledged that “there is no doubt that this is our the most difficult step in the process of achieving them.” He thinks, for example, large credit services such as eBay or growing company merged with them in the original is not willing to, because of “credibility is assets”, but they can through the letter with the request and other various methods with information.

the company will now to some of the collaborative consumption start-up, because their market share smaller, also does not have too much competition in this field, but if can merge to Traity, but can realize leap-forward development.

in addition to the Active Venture Partners and other participating Traity round including harbour Venture capital investment, has A Schindler Private Ventures, Bertelsmann Digital Media Investments, Lanta Digital Ventures, 500 Startups, Lisa Gansky, Juan Lopez – Valcarcel, Matthew Bothner, and Dalibor Siroky.

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