# Sonovate

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

- Industry: Software
- Headquarters: Cardiff, UK
- Website: www.sonovate.com
- Total disclosed funding: $36M
- Latest round: Series B (May 1, 2019)
- Investors on record: 6

## About

Based in UK, Sonovate Limited provides innovative funding solutions for recruitment agencies, streamlining the management of contractor placements through a flexible SaaS platform that addresses cash flow challenges effectively. Sonovate Limited, founded in 2012, is headquartered in Cardiff, UK. The company specializes in providing funding solutions to recruitment agencies, enabling efficient management of contractor placements. In March 2026, Sonovate Limited raised GBP 210 million from DZ Bank and M&G. Sonovate offers a comprehensive funding platform primarily designed for recruitment agencies, allowing them to efficiently manage contractor placements. Their core product suite features flexible SaaS funding solutions that deliver immediate cash flow for both permanent and contract placements, addressing the cash flow challenges often faced by recruitment businesses. The platform integrates automated timesheet management, credit control, and invoicing functionalities into a single dashboard, streamlining operational processes for agencies. Sonovate caters to a diverse client base, from startups to established enterprises, across various sectors including consultancies and freelance platforms. The solutions are actively marketed across the UK, Europe, and North America, enabling agencies to fund large pools of workers globally. Sonovate generates revenue by providing invoice funding and financial infrastructure to recruitment agencies, earning fees and margin from funded invoices, payments, and risk management services, alongside platform-based SaaS fees for embedded payroll, compliance, and operational automation solutions. The company plans to use the March 2026 funding to strengthen its funding capacity and support staffing businesses as they scale across markets, sectors, and currencies.

## Funding rounds

- Series B, May 1, 2019, $18M — Dawn Capital, Rocket Internet SE, M&G, MXB Holdings
- Series B, Oct 10, 2016, $11M — Dawn Capital, Global Founders Capital
- Series A, Nov 3, 2015, $7.3M — DN Capital, Dawn Capital

## Investors

- DN Capital (https://capitalatlas.ai/funds/dn-capital) — Series A
- Dawn Capital (https://capitalatlas.ai/funds/dawn-capital) — Series A, Series B
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Series B
- Rocket Internet SE (https://capitalatlas.ai/funds/rocket-internet-se) — Series B
- M&G (https://capitalatlas.ai/funds/m-g) — Series B
- MXB Holdings — Series B