Brightflow AI and CircleUp Help Brands Apply for Business Loans

Brightflow AI and CircleUp are now working together to help brands apply for business loans.

With their new strategic partnership, CircleUp, which is a data company serving companies in the consumer goods space, will use Brightflow AI software and data to service its loan portfolio, the companies said in a Tuesday (March 7) press release.

“We are confident that Brightflow AI is the right fit for our brands,” CircleUp CEO Danny Mitchell said in the release. “Its monitoring tools will provide them the best long-term financing options and help them continue to grow.”

As PYMNTS reported in January, traditional lending conduits are often filled with friction.

For instance, small- to medium-sized businesses (SMBs) may have limited operating histories, or their owners’ personal FICO scores may be used as proxies for the actual creditworthiness of the operation itself.

One way to help get credit extended where it’s needed is to leverage data to help gauge the financial health of a business.

The Brightflow AI platform provides real-time visibility into a company’s cash flow, revenue, demand forecast, profitability, return on ad spend and customer lifetime value data, according to the press release.

This data helps companies take control of their cash flow, make decisions backed by the data and position their business to access capital. It also provides greater visibility and time-savings to the underwriting and finance process, per the release.

“Real-time monitoring from Brightflow AI enables brands and lenders to know their data sources are accurate, their business credit scores are up to date, and that their forecasts are validated by a team of data scientists, financial analysts and engineers,” the release said.

This new collaboration comes about six months after Brightflow AI announced that it had raised $19 million in new funding and would use it to boost its financial intelligence platform powered by artificial intelligence (AI) and machine learning, hire new talent and provide faster growth opportunities for SMBs.

“Brightflow AI is the trusted advisor small business owners can rely on,” Brightflow AI CEO and Co-founder Robbie Bhathal said when announcing the new funding on Sept. 21. “Our solution provides equitable access to the financial resources small businesses need to succeed, enabling business owners to manage opportunities and challenges more effectively.”

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