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Is This Australian Fintech Transforming B2B Credit Risk with Machine Learning?

Key Takeaways:

  • Australian fintech startup, Thirdroc, helping B2B sectors minimize credit risk.
  • The company uses machine learning and APIs to convert unstructured data into actionable insights.
  • Offers a digital lending platform that allows lenders to accurately predict credit risk.
  • Helps merchants get paid upfront for sales, allowing them the choice of when to pay their creditors.
  • Among its unique features, offers cashback incentives to employees of participating businesses.
  • Recently raised its first round of VC funding from Antler Venture Capital.

Based in Melbourne, Australia, Thirdroc is an innovative fintech company driving change within the B2B credit risk management sector. The company offers unique solutions using machine learning to fuel responsible growth for any B2B enterprise. As businesses continue to navigate the volatile economic landscape, Thirdroc presents a software-based solution packed with robust features aimed at reducing credit risk and simultaneously bolstering sales.

Co-founded by tech entrepreneurs Shivnil Maharaj and Ritesh Nain in late 2022, Thirdroc has experienced rapid growth. This swift ascent in a highly competitive market underscores its promising solutions, earning the company its first equity investment only months post-launch from leading investor, Antler Venture Capital in March 2023.

Thirdroc sets itself apart in the fintech landscape with a keen focus on machine learning technology. This company leverages an end-to-end digital lending platform equipped with powerful APIs that convert unstructured data into insightful information. Enhancing the ability of lenders to accurately predict credit risk, Thirdroc not only minimizes the risk factor but enables lenders to fund BNPL purchases directly on behalf of small businesses and other merchants.

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The company’s software solution helps merchants by enabling them to receive upfront payments for sales – an opportunity that grants businesses the power to determine when they payback their creditors. Uplifting the incentive for partnering with Thirdroc, it also offers cashback rewards to employees of enterprises that choose to collaborate with the company, thereby advancing employee retention efforts.

The ingenuity of Thirdroc’s solution suggests a proactive step forward to disrupt the fintech industry, especially within the B2B credit risk management space. With an increasing number of businesses seeking more efficacious ways to reduce risk while maximizing growth, Thirdroc projects strong potential in leading the transformation. It’s platform that operates on third-party insights and core machine learning principles, hints at a potential industry standard for managing B2B credit risks.

Regulatory uncertainty and the inherently risky nature of credit facilities necessitate a transformative solution like Thirdroc. As the industry evolves and businesses continue to prioritise artificial intelligence-based solutions, Thirdroc blooms at the convergence of a flourishing industry and leading-edge technology. Thirdroc’s digital reach can be expanded via its website, Facebook page, and LinkedIn profile.


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