The funding will be used to expand to the US and increase its headcount by the end of 2020, according to Silicon Republic.
Codat’s technology connects the internal systems of small businesses to financial organisations to enable the flow of data in real time. Its API can plug into the software used by small businesses, allowing banks, fintechs, or other financial institutions to access everything from the company’s accounting software to payment terminals and record transactions.
The startup’s solution aims to support existing processes and prevent small businesses from having to share financial information over email and through documents.
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