Overview
Sonovate is the leading provider of embedded finance and payment solutions for the contingent and permanent workforce. We fund up to 100% of invoices for recruitment agencies, consultancies and labour marketplaces. No concentration limits and no personal guarantee are required.
Sonovate’s platform and expert service deliver swift 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 £4 billion to 3,300 businesses and 40,000 workers in 44 countries.
Key features and capabilities:
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Up to 100% advance invoice funding.
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Up to 95% bad debt protection.
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Funding from £50k to £50m.
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Deep understanding of the recruitment industry.
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Funding for international expansion.
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One simple fee, quick setup.
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Tech-powered platform, all processes are automated.
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Integrates with your accounting software.
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Award-winning customer service.
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Flexible UK and international funding concentration limits.
Sonovate + Xero
To simplify your funding journey, we can automatically keep clients, invoices and credit notes in the Sonovate system in sync with your Xero organisation. Any new invoices or edits to existing invoices will be pulled through to Sonovate to make sure we have the most accurate data possible. If you’d like to push statement data back into Xero to help with your reconciliation, we can help you configure that too.
Getting started
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In the Sonovate system, click the link to connect your accountancy software and choose the Xero organisation you’d like to sync with Sonovate
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Once the integration is switched on we’ll sync automatically every hour, or you can kick off a sync yourself by pressing the button in the Sonovate portal
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Once connected you can disconnect at any time through the Sonovate portal or in the apps section of Xero.
