• Funder expands its offering, adding new features to streamline operations and financing for recruitment agencies of all sizes.
  • Solution will help improve processes, increase productivity, enhance collaboration across teams, and boost efficiencies.
  • Launch comes as three-quarters of leaders at medium-sized businesses say that adopting fintech tools for payroll and accounting would help them to become more efficient.

13th July 2023, Cardiff and London, UK: Sonovate, the leading provider of embedded finance and payment solutions for the contingent workforce, has expanded its offering with the addition of a new solution to automate back and middle office tasks for recruitment agencies of all sizes.

The new capabilities will enhance efficiencies and streamline processes, giving smaller businesses added visibility and self-serve capabilities to allow them to have more predictability as they ramp up their business. This will also help mid-size and large recruitment agencies to work more efficiently with improved integration across their suite of tech tools, better visibility, enhanced reporting, and reconciliation.

One of the standout features is automated invoicing and billing. Coupled with quick funding, it will help ensure margins are received faster and workers are paid promptly. This new offering, which is an enhancement of the new platform that Sonovate announced earlier this year, integrates timesheet management and financing, where businesses can send, track and automatically chase timesheets then make payments accordingly. In offering a complete solution, Sonovate eliminates the need for agencies to use different vendors and disjointed systems, further strengthening its position as a disruptor in the recruitment sector, and a leading provider of technology and financing services.

The platform also delivers best-in-class supplier and client management as well as the latest technology for fraud prevention and credit control.

Agencies can opt for end-to-end funding and back and middle-office solutions, make multi-sector, multi-country placements more easily or choose funding alone, depending on their specific needs.

The launch comes as three-quarters (74%) of medium-sized businesses agree that adopting fintech tools for payroll or accounting would help them to become more efficient, with seven in ten (71%) saying it would save them time.*

Richard Prime, Co-Founder and Co-CEO at Sonovate, comments: “We hear time and time again from recruitment businesses, consultancies and online labour marketplaces how complicated and painful operations can be, and the knock-on impact it has in how operations and finance teams are able to work together more smoothly. Extending our automation capabilities, while maintaining our industry leading funding capabilities, will expedite these day-to-day processes, improving the experience for both employees and clients, and freeing up valuable resources to focus on growth.”

Melanie Forbes, Managing Director at APSCO Outsource, comments: “The global employment landscape is continually evolving, and recruiters are under constant pressure to keep pace. Often this means adapting business models and ways of working to stay competitive, and this latest offering from Sonovate provides business leaders in our industry with the tools needed to save time, enable their teams to work more effectively together, and ultimately, supercharge growth.”

Sonovate, will continue to provide flexible funding solutions as its core offering. The company offers up to 100% invoice financing, empowering businesses to request funds as needed, maintain full visibility into funding limits, and manage cash flow effectively. Sonovate’s technology integrates with accounting software to ensure accurate financial reconciliation.


Notes to editors:

Media contact – [email protected]


*Opinium research of 500 senior decision makers at small and medium enterprises (0-249 employees). 120 from medium enterprises. Research undertaken between the 7th and 13th June 2023.

About Sonovate:

Sonovate is the leading provider of embedded finance and payment solutions for the contingent workforce. Its finance and technology services cater to recruitment businesses, consultancies, and labour marketplaces who place contractors and freelancers around the world. Sonovate’s platform and expert service deliver swift funding, middle and back office automation, credit decisions, same-day funding, credit insurance, and collections services, empowering companies to concentrate on expanding their business, confident that funds are in place to help meet payment deadlines. Since it started funding in 2014, Sonovate has lent over £3.5 billion to 3,300 businesses and 40,000 workers in 44 countries. www.sonovate.com