Codat
Codat enables fintech and banks to integrate small business financial data via one universal API.
Codat is a universal API platform that enables software providers and financial institutions to access, synchronize, and interpret small business financial data in real-time. It connects to 35+ accounting, banking, and commerce platforms through a single standardized API, making integrations 6x faster than building in-house. The platform serves over 300 global clients including major banks and fintechs like Brex, Jeeves, and PayPal Zettle, with 150,000+ small businesses connected.
Problem solved
Financial service providers spend months building and maintaining custom integrations with accounting and banking platforms instead of focusing on core product features.
Target customer
B2B fintech companies, digital lending platforms, banking software providers, and financial institutions serving small businesses
Founders
P
Peter Lord
CEO & Co-Founder
Previously worked at Market Finance, a UK SMB lender. Computer Science graduate from Southampton University, software engineer at Credit Suisse.
A
Alexander Cardona
COO & Co-Founder
D
David Hoare
Co-Founder
Funding history
Series C
$100M
June 2022
Led by JP Morgan
· PayPal, Shopify, Plaid
Series B
$40M
July 2021
Led by Tiger Global
· Index Ventures, PayPal Ventures
Series A
Unknown
March 2021
Led by PayPal Ventures
· Unknown
Total raised:
$172M
Industries
Pricing
Not publicly available. Custom pricing based on integration requirements and expected volume. Contact sales for quote.
Notable customers
Brex, Jeeves, Pipe, Clover, Virgin Money, PayPal Zettle, Oyster, Comma
Integrations
QuickBooks Online, QuickBooks Desktop, Xero, Sage, NetSuite, Plaid, and 30+ additional accounting, ERP, banking, and commerce platforms
Website
Competitors
Plaid
Plaid focuses primarily on banking data connectivity; Codat offers broader coverage across accounting, banking, and commerce platforms with specialized financial data products.
Stripe Connect
Stripe Connect focuses on payment processing and marketplace connections; Codat specializes in comprehensive financial data aggregation and interpretation.
Twilio Segment
Segment is a customer data platform for marketing; Codat focuses specifically on financial and accounting data for B2B financial services.
Railz
Railz (part of FIS) provides financial data network access but with narrower platform coverage than Codat's 35+ integrated sources.
Why this matters: Codat has become the standard infrastructure for financial data connectivity in the SMB lending and fintech space, backed by heavyweight investors like JP Morgan, PayPal, and Shopify. With 150,000+ businesses connected and customers reducing integration time by 6x, it's reshaping how financial institutions access business data at scale.
Best for: Financial institutions and fintech companies building lending, payments, or accounting automation products for small businesses who need fast time-to-market.
Use cases
Credit Decision Automation
Lenders use Codat's Underwriting & Monitoring API to access standardized financial data from customer accounting systems, enabling faster credit decisions with real-time monitoring. This reduces manual document collection and verification time from weeks to hours.
Automated Reconciliation
Accounting software providers use Bank Feeds to push transaction data directly into customer accounting systems, eliminating manual reconciliation. PayPal Zettle reduced merchant churn by 20% using this capability.
Bill Payment Automation
Fintech platforms use Sync for Payables to pull supplier and invoice data in real-time, enabling one-click bill payments. This reduces accounts payable processing time and improves cash flow management for small businesses.
Alternatives
Plaid
Best for banking data connectivity specifically; choose Plaid if you primarily need bank account and transaction data rather than comprehensive accounting platform coverage.
Stripe Connect
Best for payment processing and marketplace networks; choose Stripe if you're building a platform marketplace rather than financial data integration.
Railz
Best for enterprise-grade financial data networks; choose Railz if you need integration with larger ERP systems, though coverage is narrower than Codat.
FAQ
What does Codat do? +
Codat is a universal API that connects to 35+ accounting, banking, and commerce platforms, enabling software providers and financial institutions to access standardized small business financial data in real-time. Building integrations with Codat is 6x faster than building in-house, and the platform serves 150,000+ connected small businesses.
How much does Codat cost? +
Codat does not publish standard pricing. Pricing is custom based on your integration requirements and expected transaction volume. Contact their sales team for a quote tailored to your business model.
What are alternatives to Codat? +
Top alternatives include Plaid (banking data focus), Stripe Connect (payment processing networks), Twilio Segment (customer data platform), and Railz (enterprise financial networks). Plaid is considered the strongest alternative but covers fewer platforms than Codat.
Who uses Codat? +
Codat is used by 300+ global clients including major banks, rapid-growth fintechs like Brex, Jeeves, and Pipe, as well as SMB lenders, accounting software providers, and payment platforms. Ideal for companies building lending, payments, or financial automation products for small businesses.
How does Codat compare to Plaid? +
Both are financial data APIs, but Codat offers broader platform coverage (accounting, banking, and commerce) versus Plaid's banking-focused approach. Codat specializes in SMB financial data with products like Underwriting APIs and Bank Feeds, while Plaid is the leader in consumer banking connectivity and is owned by Visa.
Tags
financial data API
banking integrations
accounting software
SMB lending
fintech infrastructure
data aggregation
embedded finance