Nuula is developing a 'super app' that aggregates financial services for SMBs; its app has been in limited beta since June. Its first product is an automated, account-linked line of credit; current tools include cash-flow forecasting, personal and business credit score monitoring, and customer sentiment tracking. The company plans to add more services via embedded finance and APIs, launching business banking (provided by a third party) early in 2022 and rolling out initially in the U.S., then Canada and the U.K., before expanding into Europe. Nuula will build some services itself but expects to integrate many third-party white-label offerings. Financially, the company closed a $120M package — $20M in equity from Edison Partners and a $100M credit facility provided by funds managed by the Credit Group of Ares Management Corporation — to fund the app launch and product rollout. Nuula spun out of BFS, which had raised $184M from Edison and Honeywell, and now aims to leverage data and analytics to provide SMBs with consolidated tools and insights.

Total raised

$120M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2021