Nav announces second acquisition of the year with start-up Tillful
Nav, the American financial health platform for small businesses, has acquired Tillful for an undisclosed sum.
Nav announces its acquisition of Tillful
Founded in 2020 in San Francisco, USA, Tillful is a business financial health tool that applies “better data” to assist business owners in understanding their credit and cash flow.
With the acquisition, Nav is seeking to develop its own data platform and product roadmap, with a particular aim to leverage its small business fintech talent.
This forms part of the platform’s wider pursuit to help businesses “see what lenders see” through its consolidation of cash flow tools and credit insights.
The platform supports business owners with a view of what loans they qualify for before the application is made, with results derived from multiple SMB lenders.
With the pool for business financing options becoming shallower, Nav CEO, Greg Ott, says that with Tillful, “we saw the opportunity to bring on a strong data platform and categorisation engine and a talented team who, like Nav, has empowered SMBs to make better financial decisions based on financial data”.
With Tillful’s cashflow scoring engine, Nav intends to accelerate its ability to integrate and categorise cash flow data, resulting in more accurate financial health scores for small businesses.
This is Nav’s second acquisition in less than a year after acquiring Canadian fintech Nuula’s assets back in January. Terms of the purchase have not been disclosed.
