Stax Payments Founders Secure $20M for Worth to Revolutionize SMB Underwriting
Fintech veterans behind Stax Payments launch Worth with $20M funding to streamline SMB underwriting using AI-powered data automation.
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Stax Payments Founders Secure $20M for Worth to Revolutionize SMB Underwriting
Worth, a company focused on helping fintechs, banks, and enterprises underwrite small and medium-sized businesses more easily, has raised $20 million in a seed funding round. Image:Worth It’s a large seed round, especially these days when capital is harder to come by. But the founders’ history may have something to do with that. Sal Rehmetullah and Suneera Madhani, who are siblings, also founded another fintech company, Stax Payments. They exited that startup after nearly 10 years when it was valued at north of $1.1 billion, said Madhani, after growing it to over $140 million in recurring revenue and raising $245 million in funding. (Stax still operates but the pair haven’t been part of the business in over two years.) Now they’re aiming to take their learnings from that experience to grow Orlando, Florida-based Worth, which they say is providing “frictionless” onboarding and underwriting for SMBs applying for credit-based products, loans, or financing. “Today, as a consumer you can apply…
