What’s the first thing you do when planning a holiday? If you are one of the millions of users of a service like TripAdvisor, you probably check what other travelers have to say about a particular destination or a place to stay. One bad review and you may think twice before booking.

What if you could do the same for a company you were dealing with? How good is the company’s track record? How easy is it to get payments from the company?

That’s the idea behind financial technology firm CreditMonk – an open-source platform that allows businesses to rate each other based on payment behaviour.

CreditMonk was founded by Ridhi Doongursee, a graduate of Warwick Business School, who worked briefly for UBS in London before moving back to India. She returned to work for her family-owned manufacturing business. Once back in India, Doongursee faced the same problems all small business owners do. Among them, constant delays in payments.

That experience led to the launch of CreditMonk in May 2016. The company is creating a database which clients can access to get an idea of the payment track-record of firms they may be dealing with. This is not unlike the information that credit bureaus like CIBIL provide. The difference is that while CIBIL gets its data on repayments of loans from banks and financial institutions, CreditMonk depends on ratings generated by users.