Brightflow AI Raises $15M Series A and $100M in Debt Funding to Bridge Financial Gap for Small Business Owners
Fintech Brightflow AI platform easily integrates with established financial platforms to empower small businesses and provide real-time cash flow analysis
SAN FRANCISCO, September 21, 2022 /PRNewswire/ — AI luminous fluxa financial intelligence platform that empowers small businesses to control their cash flow and make data-driven decisions, announced today on $19 million in total financing, a $15 million Series A led by Haymaker Venturesand an unannounced precedent $4.2 million Round seed left by Bonfire Ventures. The company also announced $100 million debt financing available from i80 Group. With over $19 million in the total funding raised to date, the company plans to use the funding to improve its platform, recruit high-level talent and provide faster growth opportunities for small and medium-sized businesses.
Brightflow AI seeks to demystify finance for the everyday owner, with an initial focus on e-commerce. Today, 82% of small businesses fail due to cash flow problems, according to a study by American bank. 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 business owners can make strategic adjustments in real time.
“Brightflow AI is the trusted advisor small business owners can count on,” said Robbie Bhathal, CEO and co-founder of Brightflow AI. “Our solution provides equitable access to the financial resources small businesses need to succeed, enabling business owners to more effectively manage opportunities and challenges.”
The COVID-19 pandemic has caused many challenges for small businesses, with forecasts moving unpredictably from previous years. The continued threat of supply chain issues, energy sector volatility and political unrest have forced smaller companies to monitor their balance sheets more closely, focus on cash flow management and increase their working capital reserves. Brightflow AI proactively and autonomously monitors a company’s finances for a fraction of the time and cost of traditional service providers. This translates into a significant reduction in cost and time for the business owner.
To further support small businesses, Brightflow AI has raised $100 million in debt financing to allow eligible companies to access capital in these times of volatility and high interest rates.
Brightflow AI easily integrates with many established business management platforms, including Shopify, Amazon, QuickBooks, Netsuite, Xero, Plaid, Facebook, and Google Ads. With Brightflow AI, statistical forecasting is automated; seasonality, holidays, and marketing expenses are considered, and additive impacts are provided.
Also, the solution:
- Provides real-time visibility into cash flow, revenue forecast, demand forecast, return on ad spend (ROAS), customer lifetime value (LTV), and profitability without waiting for the books to close. ‘a company.
- Provides cash forecasting by consolidating many different Excel sheets into an easy-to-read dashboard with all of the company’s financial information.
- Customizes paid products to meet the exact needs of a business.
- Encrypts and protects all of its data, so that customer information and financial documents remain confidential.
Year-to-date, Brightflow AI has unlocked over $60 million in growth capital for clients, with more than 1,200 client connections on its platform and more than 49,000 transactions synchronized daily.
“We invest in companies that we know can transform industries,” said Marc Mullen, co-founder of Bonfire Ventures. “With Brightflow AI, businesses have the financial visibility and resources they need to unlock more capital to stay afloat and ahead, especially in these unstable economic times. Robbie and his team haven’t lost a limb. of the team since they started building the business, and I think that says a lot about the culture and the business that he and his team are building.”
Brightflow AI’s latest funding round will be used to recruit top talent and continue to improve its fintech platform. To learn more, visit: https://www.brightflow.ai
About Brightflow AI
Brightflow AI is the only fintech platform for 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 forecasts, profitability, return on ad spend (ROAS) and customer lifetime value (LTV). Brightflow AI helps qualifying businesses unlock capital to fund their growth. Backed by a full team of data scientists, financial analysts, and engineers, Brightflow AI seamlessly integrates omnichannel financial data to give e-commerce business owners the financial resources they need to succeed. Brightflow AI is backed by investors such as Tedder, SBI Group, Bonfire Ventures, Greycroft, House funds, skydeck, New Fundand Lynette Capital. To learn more, visit www.brightflow.ai.
SOURCE Brightflow AI