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Sonovate
Tech-driven finance platform for recruitment
- 101-200 employees
- Fintech
- B2B
- Marketplace
- Recruitment
- API
- City of London, London, UK
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Company mission
Sonovate's mission is to help individuals to work independently, and businesses of all kinds – from recruiters and consultants to tech-driven freelance marketplaces – get easy funding and cash flow to scale and grow.
Our take
The status quo in recruiting used to be that cash flow was one of the biggest reasons businesses failed. Commission from a company was not secured until the new-hire had passed their probation period.
The Sonovate founders were recruiters and so understood the problem. They knew the last thing businesses want to do is spend time on an activity (their finances) that isn’t fee generating. Their platform alleviates the need to manage everything.
One of the exciting benefits is it allows recruitment businesses to grow faster. Instead of being cautious, businesses know they have the financing in place to invest in growth.
Unlike other invoice financing solutions (e.g. MarketInvoice), Sonovate now offers services to recruitments, consultancies and even contractors, allowing them all to tweak their offering and build the right features. With 2022 investment from BNP Paribas and M&G Investments rocket boosting its capacity for flexibility, Sonovate is continuing to innovate the market.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- 28 days holiday (excl. bank holidays)
- Work from home opportunities
- Health insurance
Company values
- Solve problems
- Adapt to change
- Take ownership
- Because we give a shit
Funding (last 2 of 4 rounds)
Sep 2019
$67.7m
LATE VC
Oct 2016
$9m
SERIES B
Total funding: $83.1m
This company has top investors
Leadership
Richard Prime
(CEO & Co-founder)12 years experience at SThree, a leading permanent recruiter focusing on STEM. Saw very clearly the problem that Sonovate solves.
Damon Chapple
(Co-founder)Spent 9 years as Group Director at SThree.
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