AIBankingBusiness

AI-backed Aussie risk decisioning firm Rich Data Co raises $17.5m Series B

  • Rich Data Co (RDC) secures $17.5 million in Series B funding round.
  • Plans for North American expansion fueled by the investment.
  • Westpac and nCino lead the funding round for the Sydney-based AI credit risk firm.
  • BMY Group reinvests, and Octava Fund joins as a new investor.
  • RDC to use funds to strengthen services in North America.
  • The platform utilizes explainable AI (XAI) for comprehensive borrower behavior insights.
  • Previous partnerships with Westpac and nCino showcased successful applications.
  • CEO Ada Guan emphasizes strengthening relationships and disrupting lending approaches.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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