Nuula secures USD 120 mln

Thursday 9 September 2021 14:25 CET | News

Nuula, a fintech company focused on small businesses, has announced a USD 120 million in new funding. 

The total is made up of USD 20 million in equity funding led by Edison Partners that will accelerate the brand’s launch and drive adoption of the Nuula mobile app, and a USD 100 million credit facility provided by funds managed by the Credit Group of Ares Management Corporation that will provide scale to the app’s integrated credit product.

Nuula aims is to provide small business owners with access to a blend of insightful content, critical business metrics, and financial products that can help power their businesses. The initial launch of the company’s mobile application in June 2021 delivers monitoring of cash flow, personal and business credit activity, and social ratings and reviews.

Nuula will also soon unveil its plans to provide access to a range of innovative financial products within its ecosystem, including a revolutionary on-demand line of credit that will enable small businesses to access the capital they need to thrive.

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Keywords: funding, financial services, product upgrade, mobile banking
Categories: Banking & Fintech
Countries: Canada
This article is part of category

Banking & Fintech