Codat, a NYC-based universal API for small business data, raised $100m in series C funding.
The round was led by JP Morgan Growth Equity Partners with participation from Canapi Ventures and Shopify, as well as existing investors Index Ventures and PayPal Ventures. As part of the financing, Patrick McGoldrick, Partner at J.P. Morgan Growth Equity Partners will join Codat’s board.
The company intends to use the funds to continue to expand operations and its development efforts.
Founded in 2017 and led by Pete Lord, CEO, Codat is the universal API for small business data, which provides real-time connectivity that enables software providers and financial institutions to build integrated products for their small business customers. Clients range from lenders to corporate card providers and business forecasting tools and use cases include automatic reconciliation, business dashboarding, and loan decisioning. Codat reports that it now has over 200 clients, including many of the world’s largest banks as well as rapidly growing fintechs such as Brex, Jeeves, Pipe and Clover, and a team of 250 people across the UK, North America and Australia. The company has offices in London, New York, San Francisco and Sydney.
FinSMEs
08/06/2022