Rich Data Co, a Sydney, Australia-based provider of an AI decisioning platform for credit, raised $17.5M in Series B funding.
The round was led by Westpac (ASX: WBC) and nCino (NASDAQ: NCNO), and supported by a reinvestment from Australian funds management firm BMYG and new Singapore-based investor Octava Fund.
The company intends to use the funds to help accelerate its expansion into North America and grow its position as an AI decisioning platform in the global banking sector.
Led by CEO Ada Guan, RDC provides an AI decisioning platform for lenders to access to insight into borrower behaviour, enabling decisions that empower Business and SME lending. The system enables lenders to more accurately access credit risk and predict future business performance to enable access to sustainable credit.
To date, RDC has served major banks in Australiaand New Zealand, notably Westpac’s Australian business lending operations, to leverage AI in accelerating lending coverage of its existing customers.
FinSMEs
30/11/2023