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Codat

Universal API for small business data

101-200 employees
  • Fintech
  • B2B
  • API
  • Data Analysis
London (HQ), United Kingdom, 28 Easton St, Farringdon

Company mission

To make life easier for small businesses by enabling their systems and services to work together seamlessly.

Rocket List 2021
Top investors

Few candidates hear
back within 2 weeks

32% female employees

96% employee growth in 12 months

Otta's take

Xav Kearney headshot

Xav Kearney

CTO of Otta

Codat specialises in providing API software tailored for small business data. They provide the connectivity that enables software providers and financial institutions to easily build integrated products for their small business customers. Its products connect banks and fintechs to all the major accounting, banking, eCommerce and payments platforms small businesses use, enabling them to build features that save small businesses time and get them faster access to capital.

Building upon the momentum of the Open Banking movement, Codat combines the small business data network into a single API by integrating with accounting, commerce & POS, open banking, and payroll platforms. Codat's clients license the API and build it into their products, allowing them to ‘plug in’ to their customer's data and provide faster, frictionless and more risk-averse products and experiences.

Codat serves a variety of clients, including traditional banks using the API to streamline lending processes, enabling faster funding for businesses, and established FinTechs and Payments platforms using Codat to integrate data seamlessly into accounting packages, saving small businesses time on administrative tasks. Codat also serves fast-growing startups such as ESG platforms that use data to calculate and offset a business's carbon emissions.

Codat is one of the fastest-growing companies in the UK right now, having raised 6 rounds of funding over 4 years. The company has landed on and remedies a problem that many businesses come up against.

Benefits

  • We extensively externally benchmark our compensation, across all teams, and never pay below the 50th percentile
  • Genuine flexibility in how and where you work - because you're an adult, and it's what you do that matters, not what hours you work
  • No dress code at all - just wear whatever makes you the most comfortable
  • An equity incentive plan - so that our success is your success
  • 25 days holiday (plus bank holidays)
  • Generous enhanced parental leave
  • Access to the UK's leading cycle to work scheme
  • Company contributions towards eye examinations and glasses
  • Immediate enrolment to our Pension Plan (UK) or 401k (US) upon joining
  • Access to a wide range of Health Care plans through TriNet in the US with generous company coverage included
  • Open to part-time team members
  • Modern, centrally located, and dog-friendly offices in London, New York, Sydney and (soon-to-be) San Francisco

Company values

  • Useful - Delivering technology that solves real problems for real businesses
  • United - People in the best teams push and enable each other to excel
  • Unstoppable - Constant drive towards a single, clearly stated goal is the primary method of building great things

Funding (last 2 of 6 rounds)

Jun 2022

$100m

SERIES C

Jul 2021

$40m

SERIES B

$169.4m

Total funding

This company has top investors

Founders

After graduating with a degree in Computer Science, they joined Credit Suisse as a Software Engineer but quickly became frustrated with the speed of development. Wanting experience working in a start-up, they joined MarketInvoice and gained experience that would later spark the idea for Codat.

Upon graduating from university where they studied Computer Science, they joined MarketInvoice as a Software Engineer. There they built the platform infrastructure and integration with Barclays that moves several billion pounds per year.

They graduated with a degree in Classics. At MarketInvoice they built the investor product from scratch, taking it to a portfolio of £35m with £0 marketing spend. Before co-founding Codat, they were part of both the strategy and institutional investor teams at RateSetter.

People progressing

Joined as Software Engineer, being promoted to Engineering Lead after 1 year.

Joined as a Solutions Engineer, being promoted to Solutions Lead after 6 months and is now Head of Client Solutions.

Diversity & Inclusion at Codat

Endorsements

All

My opinions are valued (3)

Growing fast (3)

Intelligent people (2)

Challenging work (1)

Meaningful work (1)

Hard working team (1)

Great work is recognised (1)

Innovative product (1)

Clear values (1)

Fair compensation (1)

At Codat anyone will be able to ask questions at the weekly Company meeting. The flatish structure makes asking questions to the CEO and others a very simple and casual affair and the answers given are satisfactory, detailed and honest.

Software Engineering

My opinions are valued

Oct 2020

The challenges and work available enrich an ecosystem of thrid-party apps targeted to small businesses and add real value to users. I am especially proud of the work we have done to help facilitate and process Coronavirus Business Interruption Loan applications for HSBC.

Software Engineering

Meaningful work

Oct 2020

The disparate nature of third-party integrations mean there is never a one-size-fits-all approach to building them out. The system is always evolving and there are many challenges in scale and improving resiliency I have deeply enjoyed working on. I have always been empowered to look at our current systems and speculatively propose improvements without any mandate from above or until something has exploded and needs fixing.

Software Engineering

Challenging work

Oct 2020

The commission structure is very motivating for salespeople who back themselves to sign new customers.

Operations & Strategy

Fair compensation

Oct 2020

When I joined there were 10 of us - an engineering team and a sales team. Now there's a much larger support system which includes product, solutions, partnerships and many more, which has made my life easier and has helped me to focus on driving revenue for the company.

Operations & Strategy

Growing fast

Oct 2020

I think the best thing about my job is being able to spend my days with lots of clever people with a diverse range of experiences.

Operations & Strategy

Intelligent people

Oct 2020

It's a really exciting time at Codat as we are growing rapidly. It's great to be surrounded by so many dedicated people who are passionate about achieving our common objectives.

Marketing

Hard working team

Oct 2020

Everyone is made to feel that they have something valuable to contribute as a specialist in their field and this is very much reflected in the work that is produced.

Marketing

My opinions are valued

Oct 2020

There is plenty of variety which makes working here very exciting.

Marketing

Growing fast

Oct 2020

At Codat, I have been encouraged to ask challenging questions. We consider them to be a great occasion to clarify a feature and start a discussion, always making sure that problems and concerns, however complex, are identified and addressed. Teams at Codat are always up to sharing what they are working on, as we value our team members learning about our business and understanding our product from a different perspective.

Software Engineering

Intelligent people

Oct 2020

Codat is growing quickly! It's great to work with new people who are up to sharing their experiences. This also means that there are many opportunities to work across teams. As new business needs are identified, exciting roles and short-term projects are available to develop new skills.

Software Engineering

Growing fast

Oct 2020

Codat is in a growing industry and has developed a product that has received a lot of enthusiastic feedback from our users. It is exciting to be part of this adventure as we build new features that removes long-standing pain points of our clients!

Software Engineering

Innovative product

Oct 2020

There is a general culture that everything should be shared. Anyone from any team can have an idea or view about something even if its not directly related to your work and it will be taken seriously. It's actively encouraged to speak up about your experience at Codat as its the only way we can keep getting better.

People, HR, Recruitment

My opinions are valued

Oct 2020

We ensure that people feel that their work has a meaning. We know that not everything can be right or amazing 100% of the time and we're happy with that and make sure its the effort and determination that's recognized not simply the output. We have recently introduced a prize draw every time an epic closes.

People, HR, Recruitment

Great work is recognised

Oct 2020

On applying for a job you will see our values clearly shown and these are rigorously stuck to in reality as well. Our founding team are always available for general chats as there is no sense of 'these are the founders' its a real feeling of we are all in this together. We have created a social channel through slack so that you can have 'random' coffee breaks with team members you might not know and this enables us to keep a united workforce even when the team is remote. Our values are clear and directly relate to what we are trying to achieve and therefore can really be seen day to day.

People, HR, Recruitment

Clear values

Oct 2020

Job (1)

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