London based data technology startup Codat has raised £10mn.
In Brief:
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The funding comes from Index Ventures.
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Codat facilitates the exchange of data between financial institutions and small businesses through a single API.
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This is done to help businesses secure products like loans and insurance.
What does this mean?
Codat will use the new capital to expand into the US. The product it offers helps business owners share their data with banks more safely and easily than email and, says Codat, creates a more ongoing relationship between two parties.
