Codat secures £81.2m Series C investment led by JP Morgan Growth Equity Partners
JP Morgan Growth Equity Partners led the Series C round alongside participants Canapi Ventures, Shopify, Plaid, Index Ventures, and PayPal Ventures.
Codat provides a universal API connecting small business data systems to financial software. The company serves over 200 clients globally with a team of 250 staff.
Codat has raised £81.2m in a Series C funding round led by JP Morgan Growth Equity Partners. The financing drew participation from Canapi Ventures, Shopify, and Plaid, alongside returning backers Index Ventures and PayPal Ventures. The capital will be deployed to expand the company infrastructure and cement its position as the standard data-sharing layer for the small business economy.
The raise follows a Series B round held less than a year prior and comes as the firm scales its client roster to over 200 organisations. Strategic corporate backers dominated the latest raise, reflecting growing industry demand for unified connectivity across financial services and small business platforms.
From the founder
"Today, we’re in the age of ‘dial-up’ when it comes to business data."
Pete Lord
CEO at Codat
Investor perspective
"We believe Codat hasthe potential to fundamentally change the way data is shared across the small businesseconomy. JPMorgan Chase has an extensive small business customer base so we understandthe power of connecting and standardizing data – whether it is used for onboarding newcustomers or offering insights on business performance. This unique global perspective andCodat’s impressive management team deepened our conviction."
Patrick McGoldrick
Partner, JP Morgan Growth Equity Partners
Use of funds
- 01Build out infrastructure
Investors
Patrick McGoldrick
JP Morgan Growth Equity Partners
Canapi Ventures
Jeff Kennedy
Shopify
Jason Pate
Plaid
Index Ventures
PayPal Ventures
