SMB FinTech Nuula Rolls Out Financial Tool

The small business FinTech Nuula has launched a new financial health tool, allowing small business owners to keep on top of important financial metrics using the cloud accounting software within the Nuula app.  

The Toronto company announced the roll-out in a news release Tuesday (Nov. 16), saying it lets businesses get real-time insights from their accounting software, giving them a “comprehensive, ongoing and intelligent view of their overall financial health.” 

Nuula said the tool will soon offer the ability to get alerts about important events such as missed payments or past-due invoices. 

“The addition of the Financial Health tool makes the Nuula app even more valuable because it makes available the metrics that matter in one centralized place, so they can check in on the state of their business, whenever and wherever, right from their phone,” said Mark Ruddock, CEO at Nuula.  

“Most small business owners want to keep up-to-date on and track the overall health of their business daily, but rarely have the time to do this. By coupling a small business’s accounting data with Nuula’s existing business tools and insights, we’ve made that much easier. Even when they are on the go.”

The company says the integration between Nuula and accounting software providers was made possible by its partnership with Codat, a universal API for small business data.  

Read more: Small Business FinTech Nuula Lands $120M in Funding 

With the launch, Nuula users can sync their Quickbooks, FreshBooks and Wave accounts. Other accounting platforms, including Sage, Xero, Microsoft Dynamics and others, will be added in the coming months, the company said. 

Read more: Nuula CEO Sees Data-Fueled Super-App That Re-Bundles the Best of Unbundled Banks 

In an interview with PYMNTS’ Karen Webster in September, Ruddock shared his company’s ultimate goal. 

“We want to create an app that small business owners in particular are going to [use] every day” to access “the metrics that matter … in the palm of their hands,” he said.  

Nuula’s vision is a super-app with “free tools like cashflow forecasting and monitoring business and personal credit files, because that’s how you adjudicate credit for small businesses.”  

This mix will include customer sentiments, social commerce “and even Shopify data,” Ruddock said: “All of their eCommerce data in one place at a glance on their phone. That is one really important piece that drives both engagement and retention on [our] platform.”