PriyaPatelTLDR:
- Founders of Stax Payments, Sal Rehmetullah and Suneera Madhani, launch Worth AI, an AI-powered business credit decisioning platform.
- Worth AI aims to provide banks, credit unions, fintechs, and financial service providers with a single business credit score, called WorthScore, to make quicker and more accurate credit decisions for business loans.
The founders of Stax Payments, Sal Rehmetullah and Suneera Madhani, have launched a new AI-powered business credit decisioning platform called Worth AI. This platform aims to revolutionize the credit decisioning process for business loans by leveraging AI to analyze both traditional and non-traditional data sources. By consolidating data points, Worth AI provides creditors with a single business credit score, known as WorthScore, claiming to produce it in minutes. The platform also offers predictive risk monitoring and business onboarding capabilities to facilitate quicker and more accurate credit decisions. The goal of Worth AI is to boost financial inclusion for small and medium-sized businesses (SMBs) by providing insights that enable the quick deployment of capital and transparent application of credit data.
Backed by an executive team with experience from Visa, Worldpay, American Express, and Google, Rehmetullah and Madhani will act as co-CEOs of Worth AI. The start-up has raised “over eight figures” in pre-seed funding to support its aggressive growth plans. Rehmetullah highlights the platform’s focus on addressing challenges and inefficiencies in financing for SMBs, aiming to enhance efficiency for financial service providers, create equal access to capital, and foster economic growth. Madhani emphasizes the need for data transparency and accurate financial profiling of businesses, which she believes has been historically hindered by applying a consumer lens to business credit scoring.
