Find out how Sonovate is helping recruitment businesses like yours maximise their margin, take on bigger placements, and earn on the cash already sitting in the facility.
Why agencies switch
Built by recruiters, for recruiters. The platform, technology and support team are all UK-based, and funding decisions are made by people who understand how a recruitment book actually grows.
When the provider doesn't know recruitment, the workload doesn't go away. You end up wrapping the business around the system, chasing decisions that don't fit how your book works, and waiting on support that doesn't know your team.
The platform, the technology and the support team are all UK-based. Funding decisions are made by people who know how a recruitment book grows, and rebates earn on the cash already sitting inside the facility.
Rebates · Powered by Wallets
Funds sitting in your Sonovate Wallet between funding and payout earn a daily rebate. Nothing changes in how you run a pay run, and nothing changes in your process. The cash already in the facility just works harder while it sits there.
Funding moves more of the invoice into the business sooner. Control over timing keeps the margin working harder. The flywheel only turns when the facility doesn't get in the way of the next placement.
Migration is the question most agencies want to answer first, and fairly so. The Sonovate team coordinates the move with your current provider directly. The only thing you do is sign and go.
We recently joined Sonovate from a competitor as we were not happy with the service / onboarding we had received. From our initial conversation to the onboarding to the day to day running of it the process has been brilliant. Nothing is too much trouble and there is lots of support getting started.
Six things worth knowing in advance. Tap to open.
No. The renewal is just the right moment to benchmark. A 30-minute call gives you a like-for-like read on advance rate, perm funding, concentration headroom and the total cost of the facility. If the numbers do not move enough, that is a useful data point either way.
Sonovate facilities run on rolling terms with reasonable notice periods. Worth checking with your current provider whether any other lending facilities (term loans, asset-based loans) are tied to the IF agreement on a co-terminus basis. It is a common structure and good to know before any renewal conversation gets serious.
No. The cutover is timed so the last pay run sits with the old provider and the first one sits with Sonovate. An onboarding executive runs the first one on Zoom with your team. Hundreds of moves a year, and disruption is the part the team optimises against.
Perm placements are funded up to 80% under Total Funding, on the same account as contract. Same credit relationship and same monthly fee. Most generalist facilities cap perm well below this or exclude it entirely.
The Wallets layer is a control space inside the platform where funded cash lands before withdrawal. Cash sitting in the wallet earns a daily rebate that pays back monthly.
0.025% per day on GBP balances (which accrues to 9.125% over a year), 0.020% per day on non-GBP balances (7.3% over a year). A structural feature of the platform rather than a discretionary discount, so it earns whether or not you remember to optimise around it.
Sonovate funds in nine currencies: GBP, EUR, USD, AUD, CAD, CHF, DKK, NOK and SEK. The US, GmbH and multi-currency work are all served from the same platform, with no separate facility and no separate account team.
"I'm an expert in recruitment funding, and the wider team is with you at every step of the way. Even if you aren't looking to switch right now, I'm happy to answer questions on how Sonovate could help in the long term."