UK FinTech Sonovate has raised £165mn in funding.
In Brief:
Sonovate offers businesses a platform of APIs to fund their workforce and scale.
It's made a securitisation deal with BNP Paribas and M&G Investments.
This is part of Sonovate’s goal to raise £1.3bn this year.
What does this mean?
So far, Sonovate has funded £2.5bn in 40+ countries for businesses to help them scale. It aims to help businesses optimise their cashflow and says its solution supports the world of flexible working. With the new funding, the business says it has more flexibility which can be passed on to its customers.
