Codat, the API-based platform for business data, today announced strategic investments from PayPal Ventures and American Express Ventures. Along with the announcement of these new investments, Codat also formally launched its U.S. operations.
Codat is the fintech startup powering the small and medium business data ecosystem. Codat’s API connects the tools and services that small businesses need for their operations and handles the heavy lifting of integrations—ultimately leaving providers free to focus on improving their offerings for small businesses.
Codat was founded in London in 2017 to support small- and medium-sized businesses by providing a critical data exchange between SMBs and the financial institutions and fintechs that serve them. Codat customers include lenders, insurers, providers working in payments, point of sale software, corporate cards, debt collection, venture capital, automation, and expense management.
“Small businesses continue to seek more intuitive financial services solutions,” said Dana Eli-Lorch, Managing Director at Amex Ventures. “Codat’s integrations have the potential to create value for financial providers, helping them deliver enhanced experiences and more efficient services for small and medium businesses.”
Zettle, a PayPal payments company that serves SMBs, leverages Codat’s technology to transfer point of sale transaction data into their merchants’ accounting software. This helps Zettle deliver a faster, more convenient experience for customers.
“The data connectivity Codat enables is a game changer for small-to-medium businesses who want the flexibility to use their preferred tools to run and grow their business” said Peter Sanborn at PayPal Ventures.
“Through Zettle’s integration with Codat, we have seen first-hand how Codat drives important efficiencies for our mutual customers. We’re excited to invest as Codat brings its solution to more businesses that are looking to streamline their data connectivity across multiple business software providers.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
