Led · Series B · Nov 2023

Rich Data provides AI decisioning technologies and solutions for business and commercial lenders. It harnesses machine learning blended with human expertise to deliver insights that bring transparency, compliance, and accountability to lending decisions. Led by CEO Ada Guan and based in Sydney, the company says its offerings drive growth and foster opportunities in financial portfolios. The company recently raised an additional $9M as part of its Series B, bringing total Series B funding to $37M. Rich Data intends to use the funds to accelerate expansion into North America and to consolidate its position as a leading AI decisioning platform provider in the global banking sector. The financing will also support ongoing innovation efforts to provide advanced AI solutions to financial institutions. Rich Data (RDC) provides an AI decisioning platform that gives lenders insight into borrower behaviour and predicts future business performance. Its system enables lenders to more accurately assess credit risk and support Business and SME lending decisions. To date RDC has served major banks in Australia and New Zealand, notably Westpac’s Australian business lending operations. Led by CEO Ada Guan and based in Sydney, the company raised $17.5M in a Series B. The round was led by Westpac and nCino, with a reinvestment from BMYG and a new Singapore-based investor, Octava Fund. RDC intends to use the proceeds to accelerate expansion into North America and to grow its position as an AI decisioning platform in the global banking sector.