US fintech funding round-up: Brightflow AI, Inclined and Remofirst
A handy round-up of the recent funding endeavours of fintech companies across the US.
Brightflow AI, a fintech platform enabling small businesses to control their cash flows and make data-backed decisions, has raised $19 million in funding.
It consists of a $15 million Series A led by Haymaker Ventures and a previously unannounced $4.2 million seed round led by Bonfire Ventures.
Brightflow has also secured $100 million in debt financing from i80 Group. With the new funds, the company plans to further develop its platform, recruit more staff, and provide more growth opportunities to small and medium-sized enterprises (SMEs).
Using AI and machine learning, Brightflow’s platform can forecast sales, automate cash flow management, and provide real-time cash flow analysis “at a fraction of the time and cost” for business owners.
It also integrates with established business management platforms, including Shopify, Amazon, QuickBooks, Netsuite, Xero, Plaid, Facebook, and Google Ads.
This year, the firm claims to have unlocked more than $60 million in growth capital for customers.
Inclined Technologies has closed a $15 million Series A funding round led by HSCM Ventures, with participation from Anthemis Group and several new and existing investors.
The new funds will be used to support its marketing and business development teams as well as evaluating tangential opportunities for expansion.
Headquartered in California and founded in 2020, Inclined is a Software-as-a-Service (SaaS) platform focused on driving better long-term outcomes for whole life insurance policy holders.
“Our mission is to help people get more value out of their whole life investment, while transforming an industry ready to benefit from modern technology,” the firm says.
“With this capital, we will continue to improve the way people access the equity they have built in their whole life policy, while serving as a trusted technology partner to whole life carriers and financial institutions across the US,” says Inclined’s CEO and co-founder Joshua Wyss.
Remofirst has raised $14.1 million in a seed round co-led by Mouro Capital and QED Investors with participation from Counterpart Ventures.
Founded in 2021 by Nurasyl Serik and Volodymyr Fedoriv, Remofirst helps companies build global remote teams in 150 countries by allowing them to hire talent in countries where they do not have an office.
Remofirst’s services include onboarding, payroll, benefits, taxes and local compliance.
The start-up landed a $275,000 pre-seed round in early 2021 and claims to have become fully profitable in less than a year.
Remofirst recently expanded its leadership team with key industry hires and plans to announce its latest product update by the end of the year.