Sonovate offers an end-to-end invoice finance platform that advances cash against outstanding invoices and automates back-office functions such as credit control, invoicing, payments, contracts, compliance, and timesheets. The company has already funded more than £950 million to over 2,500 organisations ranging from recruitment agencies and business consultancies to gig-economy job platforms and individual contractors. Co-founders Richard Prime and Damon Chapple have positioned the service as a flexible alternative to traditional bank lending, specifically tailored to contingent workforce businesses. Beyond financing, its integrated software streamlines administrative workflows, enabling clients to focus on growth rather than paperwork. With fresh capital, Sonovate plans to enhance its core product and broaden its geographic reach into Germany, the Netherlands, and the United States. The dual-focus on product improvement and international expansion underlines the company’s ambition to become a global leader in workforce finance technology.

Total raised

$390M

Funding rounds

7

Latest round

Debt Financing

Latest activity

Jul 2022