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
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Sonovate Limited
- Date of Incorporation 20 Jan, 2011
- Jurisdiction CARDIFF, WALES
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$163.08 M (USD)
in 9 rounds
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Latest Funding Round
$198.24 M (USD), Debt – Conventional
Jul 06, 2022
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Investors
BNP Paribas
& 11 more
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Employee Count
Employee Count
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Products & Services of Sonovate
Sonovate offers a comprehensive portfolio of products and services, including Invoice Funding, Funding and Back Office, Instant Credit, and Timesheets. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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
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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
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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 |
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| Sep, 2019 | Amount | Debt – Conventional - Sonovate | Valuation |
investors |
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| May, 2019 | Amount | Series C - Sonovate | Valuation | M&G , Rocket Internet |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Diversified asset management firm and private fund focused on debt and equity investments in climate startups, real estate, and multiple sectors
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Founded Year | Domain | Location | |
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Global investments in internet and technology startups are facilitated.
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Founded Year | Domain | Location | |
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Dawn Capital is focused on investing in European software startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sonovate
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Sonovate
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based source-to-pay management solutions are provided for businesses.
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| domain | founded_year | HQ Location |
P2P marketplace for supply chain financing
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| domain | founded_year | HQ Location |
Working capital loans are extended to small and medium-sized enterprises.
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| domain | founded_year | HQ Location |
Supply chain financing is facilitated through an online marketplace platform.
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| domain | founded_year | HQ Location |
Currency exchange services are facilitated by Storfund in London.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sonovate
Frequently Asked Questions about Sonovate
When was Sonovate founded?
Sonovate was founded in 2012 and raised its 1st funding round 2 years after it was founded.
Where is Sonovate located?
Sonovate is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Is Sonovate a funded company?
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.
What does Sonovate do?
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.
Who are the top competitors of Sonovate?
Sonovate's top competitors include Tradeshift, Optimum Finance and Finverity.
What products or services does Sonovate offer?
Sonovate offers Invoice Funding, Funding and Back Office, Instant Credit, and Timesheets.
Who are Sonovate's investors?
Sonovate has 12 investors. Key investors include BNP Paribas, PNC, Shawbrook Bank, Prudential, and Rocket Internet.
What is Sonovate's valuation?
The valuation of Sonovate is $82M as of Oct 2016.
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