Brightflow AI, a Berkeley, CA-based financial intelligence platform that empowers small businesses to take control of their cash flow and make data-backed decisions, announced that it raised $15 million in Series A funding led by Haymaker Ventures. The unannounced $4.2 million seed round was led by Bonfire Ventures.
The company also announced $100 million in debt financing from i80 Group to further support small businesses. Brightflow AI has raised debt financing to provide qualifying businesses with access to capital during these volatile, high-interest-rate times.
Brightflow AI's latest funding round will go to recruit top-tier talent and continue enhancing its fintech platform.
With over $19 million in total funding raised to date, the company plans to use the funding to enhance its platform, recruit top-tier talent, and rapidly provide growth opportunities to small and medium-sized businesses.
Brightflow AI aims to demystify finance for e-commerce owners. According to U.S. Bank, 82 percent of small businesses fail due to cash flow issues. Brightflow AI prevents small business owners from being blindsided by their finances. Using AI machine learning algorithms, the platform can easily forecast sales and automate cash flow management while providing a dashboard with real-time cash flow analysis so that business owners can make strategic adjustments in real-time.
Company: Brightflow.ai Inc.
Raised: $15.0M
Round: Series A and Debt Funding
Funding Month: September 2022
Lead Investors: Haymaker Ventures-Series A, i80 Group-Debt
Additional Investors:
Company Website: https://brightflow.ai/
Software Category: Financial Intelligence Platform
About the Company: Brightflow AI is a fintech platform empowering small business owners to take control of their cash flow. Brightflow AI offers a modern financial toolkit to give everyday business owners real-time visibility into their cash flow, revenue, demand forecast, profitability, return on ad spend (ROAS), and customer lifetime value (LTV) data. Brightflow AI helps qualifying companies unlock capital to fund their growth. Supported by a full-service team of data scientists, financial analysts, and engineers, Brightflow AI integrates omnichannel financial data to give e-commerce business owners the financial resources they need to succeed. Brightflow AI integrates easily with many established business management platforms, including Shopify, Amazon, QuickBooks, Netsuite, Xero, Plaid, Facebook, and Google Ads. Since the beginning of the year, Brightflow AI has unlocked more than $60 million in growth capital for customers, with more than 1,200 customer connections on its platform and over 49,000 transactions syncing daily.
Source: https://www.prnewswire.com/news-releases/brightflow-ai-raises-15-million-series-a-100-million-in-debt-financing-to-bridge-financial-gap-for-small-business-owners-301629271.html
to Bridge Financial Gap for Small Business Owners