American Express and PayPal invest in financial API provider

Besides the announcement of these new investments, Codat also formally launched its US operations

American Express PayPal

American Express and PayPal invest in financial API provider. Source: pixabay.com

Codat has announced strategic investments from PayPal Ventures and American Express Ventures.

Codat is a London-based fintech startup powering the small and medium business data ecosystem. Codat’s API connects the tools and services that small businesses need for their operations and handles the heavy lifting of integrations. As a result, that is leaving providers free to focus on improving their offerings for small businesses.

Codat was founded in 2017 to support SMBs by providing data exchange between them and the financial institutions and fintechs that serve them.

Codat customers include lenders, insurers, providers working in payments, point of sale software, corporate cards, debt collection, venture capital, automation, and expense management.

Small businesses continue to seek more intuitive financial services solutions. Codat's integrations have the potential to create value for financial providers, helping them deliver enhanced experiences and more efficient services for small and medium businesses
Dana Eli-Lorch, Managing Director at Amex Ventures

Zettle, a PayPal payments company that serves SMBs, leverages Codat’s technology to transfer point of sale transaction data into their merchants’ accounting software.

We’ve reported that Mastercard expands Click to Pay technology to UAE.

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