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Brightflow AI raises a $15 million Series A $100 million in debt financing to bridge the financial gap for small business owners

by techsterhub bureau
September 22, 2022
Reading Time: 3 mins read
Brightflow AI raises a $15 million Series A $100 million in debt financing to bridge the financial gap for small business owners

Brightflow AI, a financial intelligence platform that empowers small businesses to take control of their cash flow and make data-backed decisions, today announced over $19 million in total funding, a $15 million Series A led by Haymaker Ventures, and a previously unannounced $4.2 million Seed round led by Bonfire Ventures. The company also announced $100 million in debt financing available from i80 Group. 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 more rapidly provide growth opportunities to small and medium-sized businesses.

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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 complications, according to a study by U.S. 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 that business owners can make strategic adjustments in real-time.

“Brightflow AI is the trusted advisor small business owners can rely 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 manage opportunities and challenges more effectively.”

The COVID-19 pandemic brought many difficulties for small businesses, with forecasts changing in unpredictable ways compared to previous years. The ongoing threat of supply chain issues, energy sector volatility, and political unrest has forced small businesses to more closely monitor their balance sheets, focus on cash flow management, and increase their working capital reserves. Brightflow AI proactively and autonomously monitors a business’s finances for a fraction of the time and cost of traditional service providers. This results in significant cost and time reduction for the business owner.

To further support small businesses, Brightflow AI has raised $100 million in debt financing to provide qualifying businesses with access to capital during these volatile, high-interest-rate times.

Brightflow AI integrates easily 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 expenditures are accounted for, and additive impacts are provided.

Additionally, the solution:

  • Provides real-time visibility into cash flow, revenue forecasting, demand forecasting, return on ad spend (ROAS), customer lifetime value (LTV), and profitability without waiting for a business’s books to close.
  • Delivers cash flow forecasts by consolidating many different excel sheets in favor of an easy-to-read dashboard with all the company’s financial information.
  • Customizes paid products to fit a business’s exact needs.
  • Encrypts and protects all of its data, so that customer information and financial documents remain confidential.

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.

“We invest in companies that we know can transform industries,” said Mark 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 during these volatile economic times. Robbie and his team haven’t lost a team member since they started growing the company, and I believe that speaks volumes to the culture and business that he and his team are building.”

 

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