No concentration limits
Win the big client. A large share of your ledger with one creditworthy client won’t cap your funding.
Switching funder
Your funder loves limits. We prefer ambition.
- No concentration limits
- Up to 100% on eligible contract invoices
- No all-turnover agreement
4.3/5 from 267 reviews on Trustpilot
Backed by DZ Bank and M&G Investments
Get a switch assessment
Tell us about your book. A recruitment funding specialist will map out how a switch would work for you, with dates.
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A named expert to speak to
We run the switch for you
Invoices funded£8bn+
for our customers
Active agencies1,000+
with 20+ more joining every month
Funding capacity£240m+
backed by DZ Bank and M&G Investments
Countries funded40+
in 9 currencies
What changes when you switch
Funding that keeps up with your ambition.
Agencies move to Sonovate when their facility starts deciding how fast they can grow. Here’s what you get instead.
Up to 100% on contract invoices
Prepayment on eligible contract invoices, with funds released daily.
No all-turnover agreement
You choose what to fund. You’re not locked into funding your whole ledger.
No personal guarantees on contract
Contract funding comes without a personal guarantee, as standard.
95% Bad Debt Protection
On eligible invoices, underwritten by Allianz. Credit control is handled in-house, in your name.
£240m+ funding capacity
Backed by DZ Bank and M&G Investments, so your funding can grow as your book does.
Before and after
Your facility shouldn’t be the ceiling.
When funding holds you back
- A cap on how much of your book one client can make up
- One late payer putting pressure on your whole facility
- Timesheets, invoices and funding in separate systems
- Growth plans waiting on a facility review
With Sonovate
- No concentration limits
- Funding assessed client by client, so one late payer doesn’t freeze your book
- One connected platform, from timesheet to funding
- £240m+ funding capacity behind you
How a switch works
Switch funder without the disruption.
The fear of switching is almost always worse than the switch itself. Here’s how we keep it smooth.
1
Talk to a specialist
Bring your current notice terms. We’ll map out how a switch would work for your book, with dates.
2
Checks and terms
KYC and ID checks, then signed terms. Your new facility is lined up before you give notice.
3
We run the handover
We run the interfactor process with your current funder and fund your back book, so cash keeps flowing.
4
Keep placing, keep paying
The two facilities run in parallel over the handover, so payroll never misses a beat. Your invoices stay under your brand.
One connected platform
Funding gets you moving. The platform helps you grow.
Funding, payments and back-office technology in one connected platform for recruitment businesses. Start with funding and switch more on when you’re ready.
01
Fund
Up to 100% on eligible contract invoices, released daily.
02
Pay
Workers and suppliers paid accurately, every cycle.
03
Operate
Timesheets, contracts and invoices in one place.
04
Protect
95% Bad Debt Protection on eligible invoices and in-house credit control.
05
Scale
Grow into new clients, currencies and countries.
Funding on its own
Platform Funding
Simple funding on Sonovate, that ties into the software you already use.
Funding and the full workflow
Time & Fund
From approved time to paid, without the admin drag. Timesheets, invoices and funding in one connected workflow.
“Sonovate is an easy to use, all-in-one platform for contract recruitment. It has taken the stress out of having to find funding partners, timesheet portals, credit control; the list goes on."
4.3/5
from 267 reviews on Trustpilot
Questions about switching
Straight answers, before you call.
Still got a question? A specialist can talk it through with your book in front of them.
My facility is under review or not being renewed. What should I do first?
Check your notice period, because it sets the timeline for everything else. Then line up your new facility before you give notice, so there’s no gap between the old facility ending and the new one starting.
What happens to the invoices with my current funder?
We run the interfactor process with your current funder and fund your back book as part of the move. The two facilities run in parallel over the handover, so cash keeps flowing and payroll doesn’t gap.
Do you have concentration limits?
No. Funding is assessed client by client, so a large share of your ledger with one creditworthy client won’t become a funding ceiling.
How much of each invoice can I get?
Up to 100% on eligible contract invoices, with funds released daily. For permanent placements, you get 80% when your candidate starts and the remaining 20% on collection.
Will I need a personal guarantee?
Not on contract funding, as standard. Perm funding needs a £5k personal guarantee and a debenture.
Is there an all-turnover agreement?
No. You choose what to fund.
Do I have to use the whole platform?
No. Platform Funding gives you funding that ties into the software you already use. Time & Fund connects timesheets, invoices and funding in one workflow. You can switch more on when you’re ready.
What does getting set up involve?
KYC and ID checks, then signed terms. Your notice period with your current funder sets the overall timeline, and we’ll give you a transfer plan with dates.
The next stage of growth needs a different kind of funder.
Talk to a recruitment funding specialist about switching. We’ll show you how it would work for your book.