| CreditorWatch | |
| Type: | Private company |
| Foundation: | Sydney, Australia (2010) |
| Founder: | Colin Porter |
| Key People: | Colin Porter, Patrick Coghlan and Dale Hurley |
| Products: | Credit reporting agency |
| Services: | Credit data collection, business information, credit reporting, software, information technology, business services, research |
CreditorWatch is an Australian financial services and software as a service (SaaS) company that provides software and services related to customer onboarding, customer management, financial analysis and risk mitigation.
CreditorWatch manages the credit files of all commercial businesses in Australia and is a credit reporting agency. The company aggregates data from a range of sources that include Australia's corporate regulator Australian Securities & Investments Commission (ASIC), ABR (Australian Business Register), courts,accounting software companies as well as adverse data provided by CreditorWatch users.
Businesses can use the service to perform credit checks on commercial entities, monitor client credit ratings, search potential debtors before offering credit and receive alerts when a default is lodged against a client.[1] CreditorWatch also allows small businesses to expose clients who have failed to pay their invoices on time.[2] [3] CreditorWatch is an ASIC-approved information broker.
CreditorWatch was founded in October 2010 by entrepreneur, Colin Porter. The company officially launched on 15 January 2011 after receiving recognition and coverage on Australia's Nine Network television program A Current Affair (Australia).[4] Although initially self-funded, CreditorWatch secured an undisclosed amount of venture capital from Nightingale Ventures in January 2012.
In October 2017, CreditorWatch was acquired by InfoTrack, a Sydney-based, software as a service (SaaS) company.[5] [6]
6 December 2018 - Founder Colin Porter announces his departure from CreditorWatch at the end of December 2018. The business will be led by the current managing director Patrick Coghlan who will assume the role of CEO.