Codat, a London, UK- and New York-based API-based platform for business data, received strategic investments from PayPal Ventures and American Express Ventures.
The amount of the deal was not disclosed. Amex and PayPal joined previous investor in Codat’s Series A Index Ventures.
Along with the announcement of these new investments, Codat also formally launched its U.S. operations.
Founded in 2017 by founder and CEO Peter Lord, Codat is a fintech startup providing an API that connects the tools and services that small businesses need for their operations and handles the integration part, leaving providers free to focus on improving their offerings for small businesses.
Customers include lenders, insurers, providers working in payments, point of sale software, corporate cards, debt collection, venture capital, automation, and expense management.
Clients range from lenders to corporate card providers, and use cases span insurance to cashflow forecasting and more.