CEO Mark radek of nula announced that nulla is
winding down and let go of its team at the
end of September and the company is selling off all
of its assets. It is at a Runway did not
secure a series a many of you who are wondering who
is nula.
Johnny Yodi said it it is formerly BFS Capital
BFS Capital was one of the oldest
MCA funders in the industry by a long
shot. They then rebranded and pivoted the Business
by trying to become a tech company wanted a new CEO made
a shiny app and all in one solution that
Johnny was talking about. Apparently they were working on a
series a I didn't I didn't know that I didn't realize that they were up
against some pressure to go out and raise money for what they
were creating. All I saw was a lot of a lot of the press about all
their accomplishments and achievements and you know, I thought it looked pretty interesting
a lot of Integrations and then all of a sudden out of
nowhere for an outsider like us and for everyone else they're like
That's it. We're done and it's
interesting because if you read the articles from you know, what the lat
from last year specifically it seemed very promising
it seemed you know, the CEO. He specifically said
to us it's like, you know, this is gonna be a One
Stop Shop depending on what you're looking for, whether it's like Insurance whether
it's like a big loan whether
you know, it's just you can pretty much manage everything in one
spot and that sounds shiny and
awesome. You know, it's like yeah, like if your business owner and you
want to do business with them, everything can be done just like One Stop
Shop, but unfortunately, they they're whining
down. So, yeah, they were not able to raise
the money to continue carrying out their plans. I don't
know if they had all their eggs in one basket with pursuing one option for
a long period of time and it was just too late to try and secure something
else.
I don't know any of the intricate details of what led to
the the need to just Abandon
Ship but it seemed like they were essentially out of
cash at that point didn't really have any other choice and so they are
selling off their assets. So if you
want part of I guess the old Legacy BFS capital
or nula or whatever. I'm not I'm not entirely sure
what's included so don't quote me on any of it. But things are for sale
you want what new has had the fs
capital? I don't know if that's included give them a call. It seems
like they're looking for buyers for their stuff. If you
work in a small business finance industry. You're a big player. Hey, maybe
they have something that you're interested in. Yeah.