What is Rich Data?
Rich Data is at the forefront of AI Decisioning as a Service, empowering businesses across the credit lifecycle. Its AI-Native Decisioning platform is designed to drive innovation, foster growth, and enhance customer experiences. By integrating advanced AI capabilities with deep industry expertise, Rich Data provides the essential AI 'brain' for modern business lending, enabling clients to make smarter, faster, and more effective decisions.
How much funding has Rich Data raised?
Rich Data has raised a total of $41.5M across 3 funding rounds:
Other Financing Round
$15M
Series B
$17.5M
Series B
$9M
Other Financing Round (2021): $15M with participation from Bmyg
Series B (2023): $17.5M led by Westpac, Bmyg, Octava, and nCino
Series B (2024): $9M supported by Acorn Capital Partners
Key Investors in Rich Data
Acorn Capital Partners
Acorn Capital Partners is a firm founded in 2001 by experienced banking executives, specializing in providing attractive short-term financing options for businesses with challenged credit profiles that are unable to obtain financing from traditional sources. They focus on assets, business models, and management team strength.
Westpac
Westpac is a multinational bank based in Sydney, offering a comprehensive suite of financial services including deposits, lending, payments, and wealth management to households, businesses, and institutional clients across Australia, New Zealand, and international markets.
Bmyg
BMYG Financial Group, established in 2010, provides a full spectrum of financial services, with a specialization in asset management, wealth management, wholesale trustee services, and end-to-end media financial information platforms.
What's next for Rich Data?
The recent major strategic investment signals a new phase of expansion for Rich Data. This capital will likely be deployed to enhance its AI platform, broaden its market reach, and deepen its technological capabilities. The company's focus on AI-driven decisioning positions it to capitalize on the increasing demand for intelligent automation and data-driven insights within the financial services industry, suggesting a future centered on scaling operations and developing next-generation AI solutions.
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