# Codat

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/codat

- Industry: Software
- Headquarters: London, UK
- Website: www.codat.io
- Total disclosed funding: $153M
- Latest round: Series C (Jun 8, 2022)
- Investors on record: 7

## About

Codat Limited is a technology company that provides a data-sharing platform, enabling financial institutions to enhance their services for small and middle-market businesses through advanced data insights and automation.Codat Limited, founded in 2017, is based in London, UK. The company offers a data-sharing platform for financial institutions, focusing on improving relationships with small and mid-sized businesses. In June 2022, Codat raised USD 100 mn in Series C funding, led by JP Morgan Asset Management with participation from Canapi Ventures, Index Ventures, PayPal Ventures, Plaid Inc., and Shopify Inc. Codat has successfully completed 6 funding deals to date. The total amount raised by the company is USD 100 mn, with a current valuation of USD 819.46 mn. The founder's background information is currently unavailable.Codat specializes in a data-sharing and AI insights platform tailored for the financial services sector. The offerings include Spend Insights, which aids banks in increasing commercial card volume, Accounting Automation to streamline clients' financial processes, and Business Lending solutions that facilitate data collection for credit decisions. Codat's services are accessible in various markets, particularly the United States and the United Kingdom, catering to a diverse clientele, including banks and fintech companies.In 2023, Codat reported revenue of USD 14.05 mn and an EBITDA of USD -35.43 mn. The company operates on a subscription-based model for its data products and services, partnering with financial institutions to enhance their operational efficiency and decision-making capabilities.Following the Series C funding round in June 2022, Codat aims to enhance its infrastructure as a standard for data-sharing in the small business economy. The funding will support the development of new products and facilitate expansion into various markets, although specific markets and timelines for these initiatives have not been disclosed.

## Funding rounds

- Series C, Jun 8, 2022, $100M — Index Ventures, JP Morgan Asset Management, Shopify Inc., Plaid Inc., Canapi Ventures, PayPal Ventures
- Series B, Jun 11, 2021, $43M — Index Ventures, Tiger Global Management, PayPal Ventures
- Series A, May 26, 2020, $9.9M — Index Ventures

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series A, Series B, Series C
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series B, Series C
- JP Morgan Asset Management (https://capitalatlas.ai/funds/jp-morgan-asset-management) — Series C
- Shopify Inc. — Series C
- Plaid Inc. — Series C
- Canapi Ventures (https://capitalatlas.ai/funds/canapi-ventures) — Series C