Friday 27 January 2023

California-based financial health platform Nav has acquired the assets of Canadian financial services and technology company Nuula to support development of financing app for small business owners, the company said.

Terms of the transaction were not disclosed.

The acquisition adds many mobile app features to Nav's existing small business solutions, making it easy for users to compare financing options based on actual financial data.

The acquisition reinforces Nav's technology advantage in building a platform that serves the complex landscape of small business, making financial options more transparent to the over 32 m small businesses in the US.

The acquisition will allow Nav to accelerate their mobile app development and create a better tool for the underserved small business population.

Nav uses real business data and proprietary scoring to give small business owners transparency in finding the right loan, credit card, banking and other business service options.