US fintech start-up Worth raises $25m for onboarding and underwriting automation platform
Fintech start-up Worth, based in Orlando, US, has secured $25 million in funding, with the investment led by TVV Capital.
Fintech platform Worth raises $15m led by TVV Capital
Other investors include Silicon Valley Bank, Ingeborg, Florida Funders, Deep Work Capital and Florida Opportunity Fund.
Launched in March 2024, Worth provides AI-powered workflow automation solutions for underwriting and onboarding, leveraging a proprietary database of over 242 million small businesses and analysing more than 1,100 data points in real-time.
The platform is the brainchild of Stax Payments founders Sal Rehmetullah and Suneera Madhani, and aims to improve efficiency in risk management and compliance for financial institutions, lenders and other fintechs.
According to a statement, the start-up intends to use its latest fundraise to enhance its technology, expand its market presence, and “scale its services to large enterprise clients”.
Worth has already gained some traction in this sector, adding “more than a dozen key customers” in the last quarter of 2024, including Wave Financial, Aurora Payments and REPAY. The company also maintains a “strategic relationship” with credit reporting agency Equifax.
This growth has been guided by a board comprising Asif Ramji, former CPO of Worldpay, Melinda McBride, SVP at Equifax, Rob Weschler, founder and partner at Blue Star Innovation Partners and Sonali Sambhus, former SVP at Block Inc.
