Codat Sets its Path for Strategic Investments from PayPal Ventures and American Express Ventures

Codat, PayPal, American Express | March 03, 2021

Codat is going to set a path towards strategic investments from PayPal Ventures and American Express Ventures. Before, Amex Ventures and PayPal joined as investors in Codat's Series A Index Ventures. And now with the new investments, Codat also launched its U.S. operations.

Codat, being a fintech startup, has been powering the small and medium business data ecosystem for a while. Codat's API connects the tools and services which small businesses often need for their operations. It also handles the heavy lifting of integrations, which leaves providers free to focus on improving their offerings for small businesses.

In this agreement, Codat founder and CEO Peter Lord mention it is an exciting moment to have American Express Ventures and PayPal Ventures as investors. They will make life easier for small businesses. As it is known that small businesses are the backbone of global economies, so in the next few years, there will be a spectacular acceleration in the quality of financial products they are offered. By this, it will be a more connected ecosystem. The new investors further fuel ambition to improve operations for SMBs everywhere.

Codat, founded in London in 2017 supported small- and medium-sized businesses. It provided a critical data exchange between SMBs and financial institutions and fintech. Codat customers include insurers, lenders, point of sale software, providers working in payments, debt collection, corporate cards, automation, venture capital, and expense management.

On the same note, Dana Eli-Lorch, Managing Director at Amex Ventures says small businesses continue to seek more intuitive financial services solutions. And Codat's integrations have the potential to create value for financial providers. Also, it will help to deliver enhanced experiences and more efficient services for small and medium businesses.

In addition, Zettle, a PayPal payments company leverages Codat's technology. Because it will transfer point of sale transaction data into their merchants' accounting software. This will further help Zettle to deliver a faster, more convenient experience for customers in the future.


ABOUT CODAT
Codat is the fintech startup powering the SMB 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.

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