OverviewSuggest Edit

Sonovate is a contract finance solution tailored for the recruitment industry and provides both the funding and back-office support needed to run a successful, efficient contract business. It removes many of the headaches associated with old-fashioned finance products such as Invoice Discounting & Invoice Factoring and frees agencies from the burden of contract administration, allowing them to do more deals, grow sales teams and develop top billers.
TypePrivate
Founded2012
HQLondon, GB
Websitesonovate.com
Employee Ratings3.8

Latest Updates

Employees (est.) (Apr 2021)92
Revenue (FY, 2018)£6.1 M(+68%)
Cybersecurity ratingCMore

Key People/Management at Sonovate

Richard Prime

Richard Prime

Co-Founder, CEO
Damon Chapple

Damon Chapple

Co-Founder, CEO
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Sonovate Office Locations

Sonovate has offices in London and Cardiff
London, GB (HQ)
80 Cannon St
Cardiff, GB
4th floor, 101 St Mary St
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Sonovate Financials and Metrics

Summary Metrics

Founding Date

2012

Sonovate total Funding

$157 m

Sonovate latest funding size

$135.55 m

Time since last funding

2 years ago

Sonovate investors

Sonovate's latest funding round in September 2019 was reported to be $135.5 m. In total, Sonovate has raised $157 m
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Sonovate Revenue

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Sonovate's revenue was reported to be £6.15 m in FY, 2018
GBP

Revenue (FY, 2018)

6.1m

Gross profit (FY, 2018)

3.2m

Gross profit margin (FY, 2018), %

51.3%

Net income (FY, 2018)

(6.1m)

EBITDA (FY, 2018)

(5.9m)

EBIT (FY, 2018)

(6.1m)

Cash (30-Jun-2018)

1.0m
GBPFY, 2015FY, 2016FY, 2017FY, 2018

Revenue

3.6m1.8m3.7m6.1m

Revenue growth, %

(49%)

Cost of goods sold

2.8m167.8k592.9k3.0m

Gross profit

757.1k1.7m3.1m3.2m
GBPFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

155.7k26.4k641.4k29.7k1.7m250.0k1.0m

Accounts Receivable

158.2k752.5k2.8m2.9m11.0m23.9m45.0m

Current Assets

313.8k778.9k3.5m3.3m13.3m25.0m47.1m

PP&E

1.6k13.5k17.7k82.9k369.3k300.9k
GBPFY, 2015FY, 2016FY, 2017FY, 2018

Net Income

(1.7m)(2.2m)(4.4m)(6.1m)

Cash From Operating Activities

(17.6m)(27.5m)

Cash From Financing Activities

16.6m28.4m

Net Change in Cash

(1.4m)777.0k
GBPFY, 2012

Financial Leverage

1.5 x
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Sonovate Cybersecurity Score

Cybersecurity ratingPremium dataset

C

75/100

SecurityScorecard logo

Sonovate Online and Social Media Presence

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Sonovate News and Updates

Sonovate, applies for Banking Competition Remedies (BCR) £100m fund

Sonovate, the UK’s leading alternative invoice finance and back-office technology provider, is among several fintechs to have submitted bids for the BCR’s Pool E fund.

City Moves for 21 November - Who's switching jobs at Gulf Keystone, Sonovate 23 Capital?

Today’s City Moves includes Gulf Keystone, Sonovate 23 Capital Gulf Keystone Oil and gas exploration firm Gulf Keystone has announced [...] The post City Moves for 21 November - Who's switching jobs at Gulf Keystone, Sonovate 23 Capital? appeared first on CityAM.

Sonovate raises £110 million in debt and equity financing

Sonovate, the UK’s leading finance and back-office tech provider to recruitment agencies and consult...

Sonovate Frequently Asked Questions

  • When was Sonovate founded?

    Sonovate was founded in 2012.

  • Who are Sonovate key executives?

    Sonovate's key executives are Richard Prime and Damon Chapple.

  • How many employees does Sonovate have?

    Sonovate has 92 employees.

  • What is Sonovate revenue?

    Latest Sonovate annual revenue is £6.1 m.

  • What is Sonovate revenue per employee?

    Latest Sonovate revenue per employee is £66.8 k.

  • Who are Sonovate competitors?

    Competitors of Sonovate include en-japan, Mathison and Expr3ss!.

  • Where is Sonovate headquarters?

    Sonovate headquarters is located at 80 Cannon St, London.

  • Where are Sonovate offices?

    Sonovate has offices in London and Cardiff.

  • How many offices does Sonovate have?

    Sonovate has 2 offices.