About Sonovate
Sonovate is a company based in London (United Kingdom) founded in 2012. Sonovate has raised $163.08 million across 9 funding rounds from investors including BNP Paribas, PNC and Shawbrook Bank. Sonovate offers products and services including Invoice Funding, Funding and Back Office, Instant Credit, and Timesheets. Sonovate operates in a competitive market with competitors including Tradeshift, Finverity, Optimum Finance, Shengye Capital and Storfund, among others.
- Headquarter London, United Kingdom
- Stage Minicorn
-
Sectors
Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Sonovate Limited
- Date of Incorporation 20 Jan, 2011
- Jurisdiction CARDIFF, WALES
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$163.08 M (USD)
in 9 rounds
-
Latest Funding Round
$198.24 M (USD), Debt – Conventional
Jul 06, 2022
-
Investors
BNP Paribas
& 11 more
-
Employee Count
Employee Count
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Sonovate
Sonovate offers a comprehensive portfolio of products and services, including Invoice Funding, Funding and Back Office, Instant Credit, and Timesheets.
Flexible SaaS solution for advancing cash on invoices to support business growth
Tools to run and manage contractors at scale for recruitment firms
Secure credit provision for clients in seconds to facilitate transactions
Industry-leading system for tracking and managing candidate timesheets
People of Sonovate
Unlock access to complete
Unlock access to complete
Funding Insights of Sonovate
Sonovate has successfully raised a total of $163.08M across 9 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $198.24 million completed in July 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 9
- Last Round Debt – Conventional — $198.2M
-
First Round
First Round
(31 Oct 2014)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2022 | Amount | Debt – Conventional - Sonovate | Valuation |
investors |
|
| Sep, 2019 | Amount | Debt – Conventional - Sonovate | Valuation |
investors |
|
| May, 2019 | Amount | Series C - Sonovate | Valuation | M&G , Rocket Internet |
Investors in Sonovate
Sonovate has secured backing from 12 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include BNP Paribas, PNC and Shawbrook Bank.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Diversified asset management firm and private fund focused on debt and equity investments in climate startups, real estate, and multiple sectors
|
Founded Year | Domain | Location | |
|
Global investments in internet and technology startups are facilitated.
|
Founded Year | Domain | Location | |
|
Dawn Capital is focused on investing in European software startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Sonovate
Financial Statements - Sonovate
Sonovate Comparisons
Competitors of Sonovate
Sonovate operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tradeshift, Finverity, Optimum Finance, Shengye Capital and Storfund, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based source-to-pay management solutions are provided for businesses.
|
|
| domain | founded_year | HQ Location |
P2P marketplace for supply chain financing
|
|
| domain | founded_year | HQ Location |
Working capital loans are extended to small and medium-sized enterprises.
|
|
| domain | founded_year | HQ Location |
Supply chain financing is facilitated through an online marketplace platform.
|
|
| domain | founded_year | HQ Location |
Currency exchange services are facilitated by Storfund in London.
|
Frequently Asked Questions about Sonovate
Sonovate was founded in 2012 and raised its 1st funding round 2 years after it was founded.
Sonovate is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Sonovate is a funded company, having raised a total of $163.08M across 9 funding rounds to date. The company's 1st funding round was a Series C of $135.11M, raised on Oct 31, 2014.
Sonovate was established in 2012 in London, United Kingdom, within the fintech sector focused on invoice financing. Services are extended to recruitment agencies through an online system that handles credit checks for clients and processes payments for contract employees once timesheets are submitted. Operations encompass contract management via a dashboard, timesheet verification for errors, and invoice oversight, supporting efficient payroll for temporary staff.
Sonovate's top competitors include Tradeshift, Optimum Finance and Finverity.
Sonovate offers Invoice Funding, Funding and Back Office, Instant Credit, and Timesheets.
Sonovate has 12 investors. Key investors include BNP Paribas, PNC, Shawbrook Bank, Prudential, and Rocket Internet.
The valuation of Sonovate is $82M as of Oct 2016.