The landmark acquisition for OakNorth came 18 months after it shared it was on the lookout for “synergistic” opportunities
In Brief:
Cashflow forecasting FinTech Fluidly will be closing down in April as it moves to fully integrate with parent company OakNorth
The lender acquired Fluidly at the end of 2021, and in what the companies see as a natural progression as the teams grow closer, Fluidly will stop providing access to customers at the end of April
Launched in 2017, Fluidly brought more than 1100 accounting partners and 500,000 connected businesses to OakNorth in its all-in-one cashflow management platform
What does this mean?
“Since the acquisition of Fluidly, the teams have been working more and more closely with OakNorth over the last few months and we now feel that it’s the right time to further integrate Fluidly’s business with OakNorth,” Fluidly VP Commercial Gavin Fell told AltFi. “This move will see us expand our tools for businesses on a go-forward basis, as well as accelerate our ability to support ambitious SMEs with future-looking finance that can drive their growth.”
