The sibling co-founders of Stax Payments, Sal Rehmetullah and Suneera Madhani, are back with a new fintech startup, Worth, which has secured $20 million in seed funding to streamline SMB credit underwriting and onboarding.
The round was led by TTV Capital, with participation from Ingeborg, Florida Funders, Deep Work Capital, and Florida Opportunity Fund. The company also secured $5 million in debt funding from Silicon Valley Bank.
Contents
The sibling co-founders of Stax Payments, Sal Rehmetullah and Suneera Madhani, are back with a new fintech startup, Worth, which has secured $20 million in seed funding to streamline SMB credit underwriting and onboarding.Simplifying SMB Credit Access with AIBuilding a 360° SMB Financial Data PlatformStrong Early Traction & Revenue Growth
Simplifying SMB Credit Access with AI
The fintech’s platform enables banks, fintechs, and enterprises to:
- Automate underwriting & credit approval for small businesses.
- Reduce paperwork and approval times by using AI-driven financial analysis.
- Pre-fill applications with just three fields: name, address, and tax ID.
CEO Suneera Madhani highlighted the industry gap:
“Consumers can get instant credit, but SMBs still face weeks of paperwork and delays. Worth is changing that.”
Building a 360° SMB Financial Data Platform
The new fintech integrates real-time data from bank accounts, tax returns, QuickBooks, and Stripe, leveraging AI and a partnership with Equifax to provide:
- Instant Know Your Business (KYB) and Know Your Customer (KYC) checks.
- Fraud detection and identity verification.
- Predictive financial monitoring for lenders and payment processors.
Strong Early Traction & Revenue Growth
- 25+ enterprise customers, including Aurora Payments, REPAY Holdings, and PatientFi.
- Seven-figure annual recurring revenue (ARR).
- Triple-digit growth in Q4 2024, adding 12 new clients.
