The sibling founders of Stax Payments are back with a $20M seed raise for their new fintech, Worth

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, the startup tells TechCrunch exclusively. 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. ... Read full article.