UK-based small business digital lender OakNorth Bank has acquired a 100% stake in London-headquartered smart cashflow startup Fluidly for an undisclosed sum. The deal is subject to regulatory approval. Fluidly was founded in 2016, and its software has been designed for small business owners. Currently, it has 1,300 accounting firms as subscribers. Fluidly is already working with OakNorth Bank, and this acquisition is said to be in line with the latter’s goal of supporting scale-up businesses that find it challenging to access flexible debt finance. OakNorth CEO Rishi Khosla said Fluidly is an excellent strategic fit, and its acquisition is in line with furthering his group’s mission.
