Dawn and DN Capital in £20m Sonovate funding round
Dawn Capital and DN Capital have taken part in a £20m funding round for recruitment contract finance business Sonovate alongside Shawbrook Business Credit.
The funding consisted of a £5m series-A led by Dawn and DN, in addition to £15m of debt funding provided by Shawbrook.
Sonovate will use the fresh capital to expand its services into continental Europe and North America over the course of 2016, as well as continued product development.
Company
Founded in 2014, Sonovate is a contract finance company focused on the recruitment sector.
The company employs 45 people across its London headquarters and a Cardiff office.
People
Dawn Capital – Josh Bell (partner).
DN Capital – Steve Schlenker (managing partner).
Sonovate – Richard Prime (CEO, founder); Damon Chapple (founder).
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