Founder Colin Porter Type of business Private company | Founded 2010 | |
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Key people Board members: Colin Porter, Lindsay Phillips Products Credit reporting agency Services Credit data collection, business information, credit reporting, information technology, business services, research Website | ||
CreditorWatch is an Australian credit reporting agency that manages the credit files of all commercial businesses in Australia. It is a subscription based commercial company.
CreditorWatch aggregates data from a range of sources that include Australia's corporate regulator Australian Securities & Investments Commission (ASIC), ABR (Australian Business Register), courts, small claims courts, magistrates courts as well as adverse data provided by CreditorWatch users.
Business 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. CreditorWatch also allows small businesses to expose clients who have failed to pay their invoices on time. CreditorWatch is an ASIC-approved information broker
History
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). Although initially self funded, CreditorWatch secured an undisclosed amount of venture capital from Nightingale Ventures in January 2012.
CreditorWatch's current Board of Directors consists of Colin Porter and Lindsay Phillips.
In May 2013, CreditorWatch launched Money in Business as a source of news, information, advice and expertise on attaining and giving finance.