Purpose Financial has bought portfolio company Ario through subsidiary Thinking Capital Financial having backed the enterprise financing software producer in 2018.
Thinking Capital Financial, a small business loans subsidiary of financial services firm Purpose Financial, has paid an undisclosed sum to acquire the latter’s portfolio company, Canada-based credit processing software developer Ario.
Ario’s software platform allows its financial services clients to provide small businesses with a range of financing products through a machine learning-driven app.
Users receive an allowance based on their credit score that can then be used to pay suppliers, and can also apply for an additional advance to…
