Brightflow AI, a financial intelligence platform that aims to empower small businesses to take control of their cash flow, has raised $15m in Series A funding.
The round was led by Haymaker Ventures, and a previously unannounced $4.2m seed round let by Bonfire Ventures. The company also announced $100 million in debt financing available from i80 Group.
With over $19m in total funding raised to date, the company plans to use the funding to enhance its platform, recruit top-tier talent, and more rapidly provide growth opportunities to small and medium-sized businesses.
Brightflow AI aims to “demystify finance for the everyday owner, with an initial focus on e-commerce.
Today, Brightflow AI said 82% of small businesses fail due to cash flow complications, according to a study by US Bank. Brightflow AI prevents small business owners from being blindsided by their finances.
Using AI machine learning algorithms, Brightflow AI said its 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.
The company’s platform integrated with many established business management platforms, including Shopify, Amazon, QuickBooks, Netsuite, Xero, Plaid, Facebook and Google Ads.
Robbie Bhathal, CEO and co-founder of Brightflow AI, said, “Brightflow AI is the trusted advisor small business owners can rely on. Our solution provides equitable access to the financial resources small businesses need to succeed, enabling business owners to manage opportunities and challenges more effectively.”
Mark Mullen, co-founder of Bonfire Ventures, added, “We invest in companies that we know can transform industries. With Brightflow AI, businesses have the financial visibility and resources they need to unlock more capital to stay afloat and ahead, especially during these volatile economic times.”
Earlier this year, Payment management platform Finli collected $6m in its seed funding round, which was led by Urban Innovation Fund.
Copyright © 2022 FinTech Global
