Invoice funding for permanent placements

Permanent funding

Tired of funders holding you back when it comes to permanent placements? Break free from limitations with our flexible solutions for agencies of all sizes. Get super-fast approvals, rapid funding, and the flexibility to accommodate a wide variety of placement types.

How does it work?

Once you’ve signed up with us, we’ll allow you to quickly withdraw the cash owed to you by your clients against the invoices you submit through our platform.

We’ll then wait for your clients to pay us, based on the terms you would have agreed with them.

Industry leading invoice funding and workflow automation

Cutting edge technology and expert support

We’ll fund your permanent and contractor placements, but we’ll also do a lot more. Our state of the art platform is built with you in mind. To help you manage your finances and speed up your operations, we allow you to synchronise with your accountancy software so you stay on top of your invoices, payments, dunning and collections.

We also automate timesheets, allowing you to send them to workers at the click of a button and monitor them all the way through submissions, approvals and payments. Our platform does it all, and we’ll let you know if and when you need to take action.

Advantages and benefits for your business

Setup and get funded quickly with Sonovate

Quick setup

Get started quickly with fast approvals and even faster funding. We’re setup to get the ball rolling in virtually no time!

Funding for permanent placements from Sonovate. For all size recruitment agencies

Optimised for Small Agencies

Ideal for newly set-up, solo and smaller recruitment agencies looking for reliable funding support.

Extra flexible funding from Sonovate

Extra Flexibility

Benefit from a platform that allows a wider variety of placement types and real-time reconciliation.

Integrate your accounting software with your funding platform | Sonovate

Integration with your accountancy package

Keep your accounting reconciled with minimal hassle. Our platform connects directly to leading accountancy package to make your life easier and free you up to get more business.

Credit control and bad-debt protection | Sonovate

Credit Control and Bad-Debt Protection

We’ll look after credit control and bad-debt protection to give you peace of mind and help you run your business smoothly.

Expert customer service and support | Sonovate

Expert Service and Support

Enjoy the backing of Sonovate’s experienced team, empowering you to grow your recruitment agency with confidence.

Testimonials from our users

Designed to grow with you

See how it all works

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What is Sonovate?

Sonovate is a fintech platform used by thousands of different size companies to scale faster. We have funded over £4 billion in invoices for small, medium sized and large recruiters. We also support online freelancing platforms and consultancies who place contractors. We make payments in multiple currencies and in over 44 countries.

What is Sonovate's new service for permanent placements?

Whereas in the past we focused on financing invoices for contractor and freelancer placements, Sonovate has now introduced a new service to deliver invoice funding for permanent employee recruitment.  

Why has Sonovate introduced funding for permanent employee recruitment?

We believe in supporting our customers in every way possible. We listen to your feedback and continuously enhance our capabilities to support your needs. Customers asked for this service, so we introduced it to complete our offering.

What kind of funding solutions does Sonovate offer?

Sonovate offers a range of financing solutions, including invoice funding and invoice factoring, tailored for the recruitment industry. These solutions cover both permanent staff and contract workers.

What is invoice financing?

Invoice finance is an accounting service in which invoice finance lenders such as Sonovate advance businesses payments on unpaid invoices. This frees up your cashflow while the lender waits for payments from your clients.

How does this service help my cashflow?

Whether you place contractors or permanent employees (or both), invoice finance can free up cash flow by providing you immediately with the funds owed to you in outstanding invoices. This avoids the need for you to wait for payments from your customers, which can take weeks or months. It can help you deal with cash flow challenges, such as seasonal fluctuations, late payments, or unexpected expenses. Invoice finance can also help you grow your business by allowing you to take on more business, negotiate better terms with your clients and suppliers, or invest in new equipment or hire more people.

What are the benefits of invoice funding with Sonovate?

Invoice funding through Sonovate allows you to scale your business, be prepared for surges in demand, and benefit from additional services like credit control and bad-debt protection. We also offer auxiliary services designed to keep your accounting reconciled, automate your processes, speed up your middle and back tasks and free up time for your team to focus on new business and client service.

Does Sonovate provide any additional services?

Yes, Sonovate offers auxiliary services like credit control and 95% bad-debt protection to give you added peace of mind as you grow your business. Our automation tools can also help you streamline your processes to reduce the potential for human error and speed up your operations. We offer tools such as timesheet automation, where you can easily send timesheets and stay up to date on submissions, approvals and payments.


What makes Sonovate different from other invoice financing services?

Sonovate specialises in funding worker placements. Our platform is designed to provide a high level of flexibility which helps recruitment businesses, but also consultancies who place contractors and online freelance platforms to draw cash as and when they need it. You can fund various placement types and benefit from state-of-the-art automation capabilities. This applies if you work with Umbrella companies or EOR (Employer of Record) service providers.

Is this service only available to Sonovate customers?

This service is available to both our new and existing customers.

Can Sonovate help me manage accounting and finance for my business? 

Sonovate’s platform synchronises with leading accountancy packages such as Xero and Quickbooks, allowing for real-time reconciliation to give you better visibility across your finances. Our reporting tools keep you informed about your funding availability, liabilities, payments and collections.

Can I choose the services I use from Sonovate?

Yes, our platform offers a high level of flexibility. You can use it to get funding only or also benefit from automation tools, credit control and other types of auxiliary services. For example, we can follow up with your clients on payments, or you may choose to do so yourself by opting for the CHOCC option. CHOCC stands for Customer Handles Own Credit Control. It allows you to stay in charge of your credit control and customer relationships, even when using our funding service.

Can I fund all my invoices with Sonovate?

Certainly! You have the flexibility to pick which invoices you want to finance through Sonovate. Our system lets you set your own funding limits and provides real-time updates on payments and monies collected. This information helps you determine when and how to access funds. Unlike other financiers, we don’t set concentration limits or restrictions on the amount you can finance for specific clients. Plus, our instant credit decision tool quickly informs you if we can fund invoices from new clients, helping you plan for your business effectively.

Do I have to sign long term contracts to work with Sonovate?

No, you don’t need to commit to long term contracts or complicated covenants to work with us. We understand that long and complex contracts can tie you down, particularly if you are a new or small recruitment business. We offer 30 day rolling contracts to give you extra flexibility.

What protection do I have in case my clients do not pay on time?

Sonovate offers 95% bad debt protection as standard to help safeguard your business.

What do I need to do to start using Sonovate's Permanent Placement Funding?

You can get started by reaching out to Sonovate’s expert service team who can guide you through the process and help you tailor a solution that fits your recruitment agency’s needs.