Spotlight on awards
As a fast-growing scale-up, our focus is constantly on our customers. Are we providing best-in-class technology? Are we offering the highest level of service? How is our platform helping them to grow their business in a highly competitive industry? As we progress on this journey, it’s good to occasionally take stock of how far we’ve come, how we engage with our ecosystem and the contribution we’re making to our market. Industry awards are an excellent opportunity to do that. This year, we’re delighted to be recognised for our contribution to both the Fintech and the Recruitment sectors.
We’re incredibly proud that our CEO and co-founder, Damon Chapple has been named FinTech Leader of the Year by Fintech Awards Wales 2022. Having spent more than two decades in recruitment, Damon co-founded Sonovate with Richard Prime, with the vision to deliver best-in-class financial services to recruiters. Today, under Damon and Richard’s leadership, we have reached more than £3bn in invoices funded and offer an embedded fintech platform that supports the global contingent workforce.
Since 2014, our efforts have focused on creating and constantly improving our best in class platform to embed payment solutions for the contingent workforce, helping businesses who place contractors and freelancers to overcome cashflow challenges and ensure that workers are paid in full and on time. Our efforts have paid off, and we bagged the winning trophy for Growth Story of the Year at FinTech Awards Wales 2022.
Earlier in the year, we also won the 2022 TIARA Talent Tech Star Contractor Solution of the Year Award. The judges praised Sonovate for “impressive growth across all meaningful metrics, supporting contractor payments during a very challenging time, and championing support of the growing flexible workforce”.
We are shortlisted for several other industry awards. Very recently, we’ve been shortlisted at AltFi Awards 2022 for the People’s Choice Award 2022. We were also a finalist amongst innovative scale-up leaders at the Scale-Up Awards 2022 for the Scale-Up Disruptor Award. We’re also shortlisted as a finalist for the Scale-up Award in the Barclays Entrepreneur Awards 2022. Other nominations include being shortlisted as the finalist in Fintech Company of the Year in the Fintech Awards Wales, Recruitment Technology Innovation of The Year in the Recruiter Awards or APSCo UK Trusted Partner of the Year.
Our Finance team, who have put in place programmes that have helped us deliver over £3bn in invoice funding to thousands of businesses were finalists in the Finance Team of the year award in the Finance Awards Wales.
We are on a mission to be the funding platform for the future of work. We do this by creating a support structure that gives businesses and individuals the security and flexibility they need to thrive. ‘Get paid easily, however you choose to work is our mission for all businesses and individuals across the contingent labour market. As flexible workers become more important in the world economy, Sonovate is here to give them, their agencies and consultancies, the structure they need to ensure success: a fast, agile ecosystem that helps them get paid easily, so they can focus on doing a great job.
As a business which only launched in 2014, we are proud that we continue to go from strength to strength as we scale and grow. To date, we have provided over £3 billion of tech-driven invoice finance, plus back-office services to over 3,300 recruitment businesses, consultancies, and labour marketplaces in more than 40 countries, paying over 30,000 freelancers and contractors and 400,000 contracts. Last September, we surpassed £3 billion of funding since inception. We expect to lend over £2 billion in 2023 alone, with further plans for growth in subsequent years.
2022 has been a busy year so far, which has seen us boost capabilities for enterprise customers through our cloud-native, API-first platform. This will strengthen Sonovate’s lending-as-a-service and embedded finance offering, allowing us to serve even more businesses and support our growing base of corporate and enterprise-size customers. We continue to grow exponentially, employing over 150 staff in Cardiff and London. We tirelessly seek investment and partnership and we work to improve and expand our tech capabilities.
In 2021, Sonovate won Fintech Company of the Year at the Fintech Wales awards, and the TIARA Deloitte Talent Tech Scale-Up award, so we’re ecstatic that we were able to continue our winning streak in 2022! This highlights the importance of Sonovate, not only to the Welsh fintech scene but also to the recruitment industry and beyond, for the vital work we do to help businesses pay their workers on time.
The winners of the TIARA 2022 Talent Tech Star Awards were announced on 1 July and the Fintech Awards Wales winners were revealed on 6th October. We wish the very best of luck to everyone taking part. Let’s make 2022 our most award-winning year yet!
The full list of awards that we have been shortlisted for is:
- APSCo UK Trusted Partner of the year
- AltFi Awards 2022 for the People’s Choice Award
- Barclays Entrepreneur Awards 2022 for the Scale-up category
- Finance Awards Wales’ Finance Team of the year
- Fintech Awards Wales Best growth story of the year
- Fintech Awards Wales Fintech of the year
- Fintech Awards Wales Leader of the year
- Recruiter Awards Recruitment Technology Innovation of the year
- Scale-Up Awards 2022 for the Scale-Up Disruptor category
- Tiara Talent Tech Scale up
- Tiara Talent Tech Contractor Solution of the year