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About CredAbility

CredAbility serves as a trusted advisor, helping people resolve financial challenges and build economic security for themselves and their families. The company's vision is to transform the lives of low- to moderate-income people by guiding them toward financial dignity, self-determination and long-term economic success.

Headquarters Location

270 Peachtree Street NW Suite 1800

Atlanta, Georgia, 30303,

United States

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Latest CredAbility News

NDIS claims, payments company Credability rattles tin

Sep 11, 2022

Share Australian fintech Credability Systems has put what it thinks is a recession-proof pitch to potential investors, in a bid to close out a $5 million private funding round and set its course to join the ASX-boards as early as next year. Credability, run by Sydney-based entrepreneur Phil Cawthorne, has been pitching family offices, institutions and other prospective investors in recent weeks, saying it can play a leading role in processing payments to service providers in the National Disability Insurance Scheme. Phil Cawthorne-run Credability is seeking funds to scale up its Payability and MarketPlace functions, and potentially fund an IPO in the coming 18 months. AFR In a pitch seen by Street Talk, the company said its Planability software was the only real-time NDIS claims processing software-as-a-service product, reducing data entry and reconciliation by as much as 90 per cent. Planability is processing about $500 million in NDIS claims a year from more than 10,000 participants, and reckons it will get that number to 50,000 this financial year. The next leg of Credability’s story is its fintech arm Payability, which will offer same-day payment for services providers using Planability, and MarketPlace, designed to be a one-stop-shop for carers and support coordinators looking to purchase NDIS services. Advertisement Credability told potential investors to think about $6.8 million revenue in the 2023 financial year, increasing to $90 million by FY27. The $5 million funding round would represent about a 14 per cent equity stake. The overarching pitch was the size of the NDIS market - $28 billion a year - and Credability’s plans to increase the volume of claims handled by its Planability platform and payments via Payability. Part of the funds raised would be used to help prepare the company for an IPO in late 2023 or early 2024, the documents said. Markets veteran Robert Coghill is advising Cawthorne on the mooted raising. Key stats for fast-growing fintech Credability. AFR Anthony Macdonald co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter . Email Anthony at Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at Save

CredAbility Frequently Asked Questions (FAQ)

  • Where is CredAbility's headquarters?

    CredAbility's headquarters is located at 270 Peachtree Street NW, Atlanta.

  • What is CredAbility's latest funding round?

    CredAbility's latest funding round is Merger.

  • Who are the investors of CredAbility?

    Investors of CredAbility include ClearPoint Credit Counseling Solutions.

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