TORONTO, May 17, 2022 /PRNewswire/ -- Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced an initiative to help small business owners improve their overall mental and physical well-being. In partnership with Walnut, Nuula's new wellness feature gives small business owners access to life insurance, plus meditation programs and online fitness classes, all for as little as $9/month.
Nuula's focus on the entrepreneur's well-being, in addition to business performance, was driven by insights into how personal stress is affecting small business owners, especially with the pressures of the COVID-19 pandemic.
A recent Capital One survey found that 45% of small business owners report that running a business during the pandemic has had a negative impact on their mental well-being, and 42% say they are currently experiencing burnout or have experienced it within the past month.
"For a small business owner and entrepreneur, work and life are inextricably linked, which is why it is so important to provide support for both," said Mark Ruddock, CEO at Nuula. "Nuula is taking a new approach to small business financial services by focusing not only on the needs of the business but also on the needs of the small business owner."
Nuula's new health and wellness feature offers access to guided meditation, sleep guides, and mental focus programs through Headspace Plus and online fitness programs through ClassPass Digital. The programs are paired with $10k-$50k of Life Insurance to give small business owners peace of mind. The new feature sits atop of Nuula's existing portfolio of small business tools, including financial health tracking, cash-flow forecasting, 24/7 credit monitoring, as well as updates on rating and reviews, all available in the Nuula app.
"Nuula is taking a forward-looking approach to the needs of small businesses, by embedding tools that match the holistic needs of its customers," said Derek Szeto, Co-founder and CEO of Walnut. "Mental and physical health are paramount to entrepreneurial success. Walnut is proud to help Nuula empower business owners by allowing them to easily access health and wellness offerings within Nuula's existing ecosystem of critical financial tools."
Starting today, Nuula users can sign up for a health and wellness membership that includes group life insurance and subscriptions from ClassPass and Headspace.
Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good. To learn more about Nuula, visit www.nuula.com
Founded in 2020, Walnut is a Canadian and US insurtech that has built infrastructure to enable multiple lines of embedded insurance for brokers, employers, and financial services coupled with value added benefits from international brands. Walnut's platform makes insurance simple and convenient – creating greater accessibility for underserved audiences. Learn more about Walnut at www.gowalnut.com/businesses.