Fintech provider raises over £100m finance to challenge UK's inflexible lending habits

Sep 9, 2019 · https://bdaily.co.uk

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Finance and tech provider Sonovate has secured £110m debt and equity finance.

This latest round of investment - following Series B funding secured in October 2016 - led by Global Founders Capital, the investment vehicle of Rocket Internet, and supported by Dawn Capital. Dawn also led Sonovate’s Series A funding round earlier that year.

Launched to challenge traditional invoice finance products on offer from the banks, Sonovate helps any business working with contingent workers to ‘unlock their potential’.

As traditional lending has been uncertain for SMEs since the 2008 financial crisis, Sonovate reduces this complexity and provides upfront funding against unpaid invoices.

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