Brightflow AI, a financial data and intelligence platform for small to medium-size businesses, has acquired CircleUp, a fintech that uses AI and machine learning to give capital and resources to up-and-coming consumer brands.
Brightflow AI announced the deal, with no financial details, on June 1.
With it, Brightflow AI adds the insights CircleUp’s Helio engine has on consumer brands to its own financial data and intelligence platform for SMBs, which gives business owners real-time visibility into their cash flow, revenue, demand forecast, profitability, return on ad spend, and customer lifetime value data, the companies said.
Helio tracks more than 1.6 million brands and 16 million attributes across over 200 data sources, according to the release.
“By acquiring CircleUp’s Helio platform, we’re able to deepen our data, machine learning and analytics capabilities, strengthen our own financial intelligence platform and provide our customers with the most comprehensive solution available,” Brightflow AI co-founder and CEO Robbie Bhathal said in the release.
CircleUp founder and Chairman Ryan Caldbeck said in the release the deal allows his firm to provide customers with the data, insights and tools necessary to grow their businesses fast and efficiently.
The companies first announced a relationship in March when they entered a strategic partnership.
At the time, they said the partnership would make it easier for brands to monitor their credit profile and apply for business loans.
In September, Brightflow AI raised $19 million in funding and $100 million in debt financing to enhance its platform, recruit talent and provide growth opportunities to SMBs.
Bhathal said then that Brightflow AI “provides equitable access to the financial resources small businesses need to succeed, enabling business owners to manage opportunities and challenges more effectively.”