UAE based Synnax Technologies, a decentralized credit intelligence platform, has appointed Luc Froehlich, the ex-global Head of Digital assets solutions at Fidelity International as their Chief Commercial Officer. He will lead Synnax’s global commercial strategy and operations.
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.
As per the press release, Froehlich brings over two decades of expertise in fixed income, experience in scaling businesses within global financial institutions, and leading high-performing teams. Froehlich’s extensive professional background and MSc in Blockchain, coupled with his thought leadership and research contributions at the World Economic Forum, equip him to lead Synnax in delivering groundbreaking credit intelligence solutions.
Synnax is revolutionizing the credit analysis industry by harnessing a decentralized network of data scientists to predict companies’ future credit metrics. This innovative approach benefits a broad range of users, including lending and borrowing platforms, market makers, asset managers, and investment managers, providing them with financial health data critical for their business.
“Credit markets, particularly private credit, have boomed over the past few decades. In contrast, the risk assessment toolkit has lagged, transparency is still lacking, and conflict of interest remains. Synnax introduces a revolutionary approach to credit analysis. By leveraging advanced encryption, we can now harvest the computing power of a broad network of AI models to deliver credit intelligence. I am excited to join an experienced and trustworthy team to develop and deploy this pioneering technology. We’ll provide a competitive edge to traditional credit investors and risk managers, and open up a new realm of opportunities in the on-chain lending space.” – Luc Froehlich, Chief Commercial Officer, Synnax.
“We are thrilled to welcome Luc to the Synnax team,” said Robert Alcorn, CEO and Co-Founder of Synnax. “His deep expertise in credit markets and proven track record of driving innovation in the digital asset space will be invaluable as we work towards our mission of providing a more trustless and privacy-preserving framework for institutional credit assessment. His appointment is also timely as we prepare to release our first public model.”
Froehlich‘s appointment follows the successful closure of Synnax’s pre-seed funding in March 2024, led by No Limit Holdings; evidence of the firm’s forward momentum and growth. With Froehlich’s leadership and Synnax’s cutting-edge technology, the company is set to empower businesses with better information to improve their capital allocation decisions, revolutionizing the traditional approach to credit assessment and ratings for the digital asset era.
