Sonovate - About the company
Sonovate is a series C company based in London (United Kingdom), founded in 2013. It operates as a Provider of an embedded finance and invoice funding platform. Sonovate has raised $163M in funding from investors like Dawn Capital, Rocket Internet and M&G, with a current valuation of $*****. The company has 101 active competitors, including 23 funded and 15 that have exited. Its top competitors include companies like Kriya, Receivables Exchange of India and Drip Capital.
Company Details
Provider of an embedded finance and invoice funding platform. It delivers invoice financing, payroll funding, and contractor payment solutions primarily for recruitment agencies, staffing firms, and contingent workforce businesses. The platform enables companies to access upfront working capital by funding invoices and managing end-to-end payment workflows, including credit checks, invoicing, collections, and contractor payouts. It operates as an embedded finance solution, integrating with business systems to automate cash flow management and reduce payment delays between clients and contractors.
- Website
- www.sonovate.com/
- Social
- Email ID
- *****@sonovate.com
- Phone Number
- +44 **********
- Registered Address
- 4th Floor Gloate House, 101 St Mary Strrt, Cardiff, CF10 1DX
Key Metrics
Founded Year
2013
Location
London, United Kingdom
Stage
Series C
Total Funding
$163M in 10 rounds
Latest Funding Round
Post Money Valuation
$***** as on May 07, 2019
Investors
Ranked
11th among 101 active competitors
Annual Revenue
£10M - £50M as on Dec 31, 2024
Employee Count
152 as on Jun 30, 2026
Investment & Acquisitions
Legal entities associated with Sonovate
Sonovate is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
Sonovate Limited CIN: 7500445 , Germany, Active | Jan 19, 2011 | £10M - £50M (As on Dec 31, 2024) | 102 (As on Dec 31, 2020) |
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Sonovate's funding and investors
Sonovate has raised a total funding of $163M over 10 rounds. Its first funding round was on Oct 31, 2014. Its latest funding round was a Conventional Debt round on Mar 09, 2026 for $*****. 1 investor participated in its latest round. Sonovate has 12 institutional investors and 4 angel investors.
Here is the list of recent funding rounds of Sonovate:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Mar 09, 2026 | 5393554 | Conventional Debt | 2315497 | 2780172 | 4072398 | 4233016 |
Jul 06, 2022 | 3684471 | Conventional Debt | 4186073 | 9860498 | 4041330 | |
Sep 09, 2019 | 7455776 | Conventional Debt | 4168747 | 2878568 | 4116695 |
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Sonovate's founders and board of directors
Founder? Claim ProfileSonovate's Board of Directors
Sonovate's board has 5 active members. Josh Bell, Dan Chaplin, Paul Birch, Richard Prime and Damon Chapple are part of team.Here is the list of Sonovate's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 15y 5m | |
Team | - | Current | 15y 5m | |
Investor | Dawn Capital | Current | 10y 8m | |
Investor | Dawn Capital | Current | - | |
opljbkr | Investor | fjxjtsq | Current | 6y 3m |
iiatoej | Independent board member | - | Past | 4y 2m |
Sonovate's employee count trend
Sonovate has 152 employees as of Jun 26. Here is Sonovate's employee count trend over the years:
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Sonovate's Competitors and alternates
Top competitors of Sonovate include Kriya, Receivables Exchange of India and Drip Capital. Here is the list of Top 10 competitors of Sonovate, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Kriya 2011, London (United Kingdom), Acquired | B2B embedded finance platform offering PayLater, invoice finance, and working capital loans | $452M | 62/100 | |
2nd | Receivables Exchange of India 2016, Mumbai (India), Seed | TReDS exchange for financing of trade receivables of MSMEs through multiple financiers | - | 61/100 | |
3rd |  Drip Capital 2015, Palo Alto (United States), Series C | Developer of an online marketplace platform for trade financing | $108M | 60/100 | |
4th | Earlypay Exchange 2010, Sydney (Australia), Series A | Provider of early payment solutions for construction subcontractors | $25M | 56/100 | |
5th | Offers SaaS-enabled procure-to-pay automation solutions | $12M | 54/100 | ||
6th | Provider of a cloud-based marketplace platform for invoice factoring | $16.8M | 54/100 | ||
7th | Software platform offering invoice management | $4.5M | 53/100 | ||
8th | Outgo 2016, Seattle (United States), Acquired | Accounting and invoice management software | $18.4M | 52/100 | |
9th | Prestige Capital 1985, Fort Lee (United States), Acquired | Online platform for invoice factoring | - | - | 50/100 |
10th | Tungsten Network 2000, London (United Kingdom), Acquired | Network providing electronic invoicing and automated accounts payable process solutions | - | 50/100 | |
11th | Sonovate 2013, London (United Kingdom), Series C | Provider of an embedded finance and invoice funding platform | $163M | 48/100 |
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Sonovate's Investments and acquisitions
Sonovate has a total of 1 investment in TruNarrative. Sonovate has not made any acquisitions as of now.Reports related to Sonovate
Here is the latest report on Sonovate's sector:
News related to Sonovate
Filter this list•
Jarvis Partners With Sonovate To Replace Legacy Pension ProviderFintech Finance•Feb 28, 2025•Jarvis, Sonovate
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Sonovate and Alloy Partner to Combat Evolving Fraud Trends as Company GrowsFintech Finance•Oct 03, 2024•Sonovate, Alloy
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Sonovate increases securitisation to £240m with Lloyds now onboardAltFi•Oct 11, 2023•Sonovate, BNP Paribas, M&G, Lloyds Bank
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Sonovate expands internationally with new funding hub in the NetherlandsFintech Finance•Jun 22, 2023•Sonovate
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Sonovate Partners With Deel to Fund International Expansion of Organisations Across the GlobeFintech Finance•Apr 26, 2023•Sonovate, Deel
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