- Sal Rehmetullah and Suneera Madhani, founders of US fintech Stax Payments, have launched a new AI-powered business credit score and financial underwriting platform called Worth AI.
- Worth AI, based in Florida, aims to assist banks, credit unions, fintechs, and financial service providers in making credit decisions for business loans by leveraging AI to analyze traditional and non-traditional data sources.
- The platform, launching this month, provides creditors with a single business credit score, called WorthScore, which can be generated “in minutes”. It also offers predictive risk monitoring and business onboarding capabilities.
- Worth AI seeks to promote financial inclusion for small and medium-sized businesses (SMBs) by enabling quick deployment of capital and transparent application of credit data.
- Rehmetullah and Madhani will serve as co-CEOs of Worth AI, supported by an executive team with backgrounds from Visa, Worldpay, American Express, and Google.
- The company claims to have raised “over eight figures” in pre-seed funding to support its aggressive growth plans.
- Rehmetullah states that Worth AI aims to address challenges and inefficiencies in SMB financing by enhancing the efficiency of financial service providers and providing equal access to capital for small businesses.
- Madhani highlights the need for data transparency and accurate financial profiling of businesses, suggesting that historically, applying a consumer lens to business credit scoring has hindered this transparency.
