What is Codat?
Codat operates at the intersection of financial technology and small business operations, providing a crucial API that connects various tools and services essential for SMBs. By handling the complexities of data integrations, Codat enables service providers to concentrate on enhancing their offerings, rather than expending resources on interoperability. Founded in 2017 with offices in London and New York, Codat is instrumental in building a robust data ecosystem for small and medium-sized businesses.
How much funding has Codat raised?
Codat has raised a total of $153.3M across 4 funding rounds:
Series A
$10M
Grant
$3.3M
Series B
$40M
Series C
$100M
Series A (2020): $10M with participation from Index Ventures LLP
Grant (2020): $3.3M led by Banking Competition Remedies
Series B (2021): $40M supported by Tiger Global
Series C (2022): $100M featuring Index Ventures, JPMorgan Chase, Canapi Ventures, Shopify, and PayPal Ventures
Key Investors in Codat
Index Ventures
Index Ventures is a venture firm investing in the next generation of entrepreneurs from seed to IPO. They partner with founders with bold dreams that challenge the status quo to build enduring companies.
JPMorgan Chase
Headquartered in New York, NY, JPMorgan Chase & Co. is a leading global financial services firm with operations worldwide, providing services in investment banking, commercial banking, asset management, and more.
Canapi Ventures
CANAPI provides education, awareness, and outreach services to the HIV/AIDS and LGBTQ community in Greater Akron, Ohio. The organization offers a variety of programs, including housing assistance, HIV testing and prevention, and nutritional support.
What's next for Codat?
The substantial enterprise-level funding and recent strategic investment signal Codat's readiness for accelerated growth and market expansion. This capital infusion is likely to fuel further development of its API capabilities, enhance its market penetration, and potentially support strategic acquisitions. Codat's focus on simplifying data connectivity for SMBs positions it for continued success as digital transformation becomes increasingly critical for businesses of all sizes.
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