The startup offers a financial software API that automates the collection and extraction of financial statement data, enabling real-time assessment of business financial health. This platform enhances decision-making for procurement and lending by providing accurate and timely financial insights for organizations of all sizes.
Funding
$620K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
DHFounders
Product
Problem
Assessing the financial health of third-party vendors and suppliers is traditionally a manual, time-consuming, and complex process, often taking days to complete. This makes it difficult for businesses to proactively mitigate risks associated with counterparty insolvency, potentially leading to supply chain disruptions and financial losses.
Solution
Fiable is a financial viability platform that automates the collection, analysis, and assessment of third-party financial statements, providing businesses with quick insights into their counterparties' financial health. The platform streamlines financial assessments, offering actionable risk mitigation strategies and prompting key questions to facilitate informed decision-making. Fiable's AI-powered technology delivers early warnings and enables proactive steps to protect businesses from supply chain insolvency. The platform also offers e-learning training to enhance workforce financial literacy and access to financial experts for assessment reviews and risk mitigation strategies.
Target Audience
Fiable primarily serves organizations in industries such as construction, property, civil engineering, utilities, and government, focusing on procurement, commercial, and risk management teams responsible for assessing and mitigating supply chain risks.
Features
- AI-powered analysis of third-party financial statements
- Automated collection and extraction of financial data
- Streamlined financial assessment process with 1-2 day turnaround times
- Customizable business rules for automated approval processes
- Centralized repository for assessment data analysis and audit compliance
- E-learning training to improve workforce financial literacy
- Access to chartered accountants and financial experts for consultation
- User-friendly language and actionable risk mitigation strategies in assessment reports
- SOC 2 Type II certified data security