London-based B2B software company Hullabalook, which works on retailers’ eCommerce site building, has raised £6 million ($8.2 million) in a Series A funding round, the company announced Feb. 8.
Hullabalook’s platform allows companies to make user “journeys” which can be used by various types of companies, including both larger and smaller businesses.
According to the release, Hullabalook saw its revenues at the end of last year grow thricefold.
The capital investment was led by Nauta Capital, and was supported by existing investors Conviction VC and Passion Capital. The new funding will reportedly go toward more growth, as the company continues to navigate the way the world has changed in the past few years.
“We are delighted to be partnering with Nauta Capital for this next exciting stage of our growth journey,” Founder Bryony Elliott said in the announcement. “When we started planning for our Series A, our ideal investor was a B2B SaaS specialist, with deep sector knowledge of retail, a strong pan-European presence, and a team with whom we could build long-term relationships with.
“In Nauta Capital we have found the ideal partner to join us on our journey. We couldn’t be happier or more excited for the future.”
PYMNTS recently wrote that as business keeps evolving and companies look for new sources of capital, traditional credit scores have become “a bit of a relic.”
Small businesses have been forming in record numbers, and the credit-worthiness metric has become more focused on data, using digital processing to see how a business is doing.
Tillful, a new company looking to transfigure underwriting with new metrics for smaller companies, might be able to make a wedge for itself. Behind that is FlowCast, a small army of data scientists.
Tillful says there are over 40,000 small businesses registered to its platform and that they’re looking for more than capital — they want to build credit for their businesses, too.
