SMBS FinTech Nuula Sets Up Shop in Home Country, Canada



FinTech Nuula, which offers tools and eased capital to small businesses, Tuesday (June 14) announced it has begun doing business in Canada — the country where it is based.

The Toronto-based company stated in the announcement that its “super app provides a range of critical features to help small business owners stay on top of what matters. It helps them track their cashflow in real time and alerts them to cash shortfalls before they happen.”

The company said that the app also helps business managers easily keep an eye on business metrics, including consumer sentiment derived from online ratings and reviews, and financial metrics.

Nuula also has a suite of financial products including smart cards, personal and business insurance, business loans and wealth management.

“Nuula is based in Toronto, so we are particularly excited to bring this innovative financial service offering to our home market,” Mark Ruddock, chief executive of Nuula, said in a prepared statement. “Nuula’s unique app-based approach delivers a suite of financial products and services that are designed specifically to meet the needs of small businesses, and the entrepreneurs who run them. This is a first for the Canadian market.”

“Most small businesses fail because they cannot unlock access to credit,” said Ruddock told PYMNTS last October. “There are a lot of great businesses that failed, simply because at that moment they couldn’t unlock the credit they needed.”

Nuula’s Canada launch includes integration with offerings from Canadian companies Caary and OneVest, according to the announcement.

 “Small businesses are at a disadvantage when it comes to financial service offerings and access to capital. That’s why innovative FinTechs like Nuula are so important,” John MacKinlay, chief executive at Caary Capital, said in a prepared statement.

He said the Nuula app will integrate with Caary’s corporate credit card. OneVest is a provider of wealth management services.

Nuula, which launched in 2021, already is available in the United States.

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