Nav, a San Mateo, CA-based provider of a financial health platform for small businesses, acquired Nuula, a Toronto, Canada-based provider of a financial mobile application.
The amount of the deal was not disclosed.With the acquisition, Nav will add many mobile app features to its existing small business solutions, making it easy for users to compare financing options based on actual financial data.Led by CEO Mark Ruddock, Nuula is a mobile application that gives small business owners instant access to business metrics and capital anytime, anywhere. It allows real-time monitoring of cash flow, revenue, sales, personal and business credit activity, and social ratings and reviews. Using it, small business owners know immediately if there’s an issue with their finances, credit, or reputation that requires action. Led by CEO Greg Ott, Nav offers a financial health platform for small businesses. By using real business data and proprietary scoring, the company gives small business owners transparency in finding the right loan, credit card, banking and other business service options. Nav’s financial health platform shows cash flow and credit insights alongside suggested financing options, and is the only place small business owners can see what financing they may qualify for before they apply. The company’s platform also integrates within other software and websites.Nav has over 1.7 million users, and, in 2022, allowed almost 200,000 small businesses to find the right financial solutions.27/01/2023
