The terms of the sale were not disclosed. A statement said CreditorWatch founder Colin Porter and his team would continue to run the business as a standalone unit with its existing branding.
CreditorWatch was set up in 2011 and now has 50,000 clients. It uses proprietary technology platforms and processes and is claimed to be challenging the existing credit bureau duopoly in Australia.
Porter said the company's early focus was on small to medium enterprises (SMEs) which were identified as being under-serviced by traditional industry providers.
“Three years ago we had a staff of six and now there are more than 50 people working for CreditorWatch," Porter said. "Our trajectory as a business has been incredible and the momentum remains amazingly strong. It was definitely time to partner up with a larger group that understood our ambition and could invest in order to cement us as a truly legitimate alternative to the incumbent players in this space.
“We are really excited about becoming part of the InfoTrack family. Relentless client focus and technology innovation are hallmarks of our culture and strategy. And we have seen those traits demonstrated consistently in InfoTrack and among its staff and leadership.
"In addition to being able to leverage unique data across both businesses, InfoTrack will also provide us with excellent support across sales, distribution, marketing, technology and product development to accelerate our growth.”
InfoTrack executive chairman Stephen Wood said: "InfoTrack and CreditorWatch are tremendously complementary and there is simply a huge opportunity to create value for our respective client bases. In particular, there is a very exciting product integration potential where we can bring data and insights from CreditorWatch together with our best in class search capability to deliver unique and unrivalled products and services for our customers."