Worth AI develops a patent-pending platform that automates onboarding and underwriting processes for financial institutions by integrating real-time data from over 242 million businesses. This technology enhances risk management and accelerates loan approvals, addressing inefficiencies in traditional credit assessment methods.
Funding
$12M 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.
Founders
Product
Problem
Small businesses often face challenges in securing capital and financial services due to the lack of standardized business credit scores. Traditional credit assessment methods rely heavily on personal credit scores of business owners and outdated risk engines, leading to biased decision-making and increased risk of loss for lenders.
Solution
Worth AI offers an AI-powered platform that automates onboarding and underwriting processes for financial institutions, providing a comprehensive view of a company's financial health. The platform aggregates and analyzes over a thousand data points from diverse sources, including tax returns, bank accounts, sales data, and enterprise resource planning (ERP) systems. By leveraging transparent AI technology, Worth AI aims to improve loan and credit approval rates for small businesses, fostering inclusivity and creating opportunities for both business owners and lenders. The Worth Score®, a business credit score calculated by the platform, helps SMBs understand their financial standing and enables lenders to make faster, more informed credit decisions.
Target Audience
Worth AI primarily targets banks, credit unions, financial solution providers, business credit card companies, fintechs, and payroll companies seeking to streamline underwriting processes and improve credit access for small businesses.
Features
- AI-powered platform for automated onboarding and underwriting
- Worth Score®, a comprehensive business credit score based on thousands of data points
- Integration with major ERP systems, including Shopify and Stripe
- Access to differentiated data from Equifax, including business firmographics and credit attributes
- Predictive risk monitoring for proactive risk management
- Continuous updates to business profiles with daily recommendations
- AI-driven assessment of financial health and creditworthiness
- Identification of non-traditional signals to provide a comprehensive view of a company's viability