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