Cardiff Fintech Sonovate Launches Wallets to Enhance Funding Flexibility and Control

Sonovate has launched Wallets, a significant update to its platform designed to give recruitment agencies and consultancies greater control over how money moves through their operations, while unlocking new value through rebates and deferred pay.

The new Wallets infrastructure introduces a more flexible and modern approach to managing funding. For the first time, eligible Sonovate customers can earn money back on the funding they use through rebates, helping to reduce the overall cost of funding and improve margins.

Alongside this, deferred pay provides customers with greater flexibility over when payments are made, enabling businesses to align cash flow more closely with their operational needs.

Rebates and deferred pay are powered by Sonovate’s new Wallets infrastructure, which sits within Sonovate’s Embedded Funding Platform. The update is designed to offer customers more control, improved visibility and additional ways to manage cash flow effectively, while reducing administrative burden.

A FinTech Wales member with offices in both London and Cardiff, Sonovate forms part of the growing Welsh fintech ecosystem, contributing to innovation in financial services and embedded finance.

Traditionally, funding has been viewed as a necessary cost of growth for recruitment agencies and consultancies. The launch of Wallets challenges that model by enabling customers not only to access funding, but also to derive additional value from it through rebates and enhanced payment flexibility.

Wallets forms part of Sonovate’s broader platform evolution, aimed at delivering a more flexible and intelligent customer experience. In addition to enabling rebates, it provides greater control over payment timing and lays the groundwork for future functionality focused on improving capital efficiency.

The launch comes at a time when many businesses are facing increasing pressure to manage costs, protect margins and operate more efficiently. By combining funding with platform-led innovation, Sonovate is positioning Wallets as a modern alternative to traditional funding models.

Sonovate’s continued focus on building technology that supports the operational realities of recruitment agencies and consultancies is reflected in this latest development, which is designed to deliver both immediate value and long-term innovation.

The introduction of Wallets also reflects changing expectations among customers, who are increasingly seeking more than access to capital. Visibility, flexibility and operational efficiency are becoming key requirements, alongside solutions that support sustainable growth.

In a recent LinkedIn post, Sonovate Co-CEO Damon Chapple said:

“Your funding should not just keep up with your business. It should help move it forward.”

He added that features such as rebates signal a broader evolution in funding, from operational support to a more strategic lever within the business.

Chapple said: “To me, rebates will quickly become an essential component, not simply because they are commercially attractive, although clearly they are. They are interesting because they signal a broader evolution in the role funding can play. From operational support, to a more strategic lever within the business.”

Wallets is now available to a wider group of recruitment businesses and consultancies, offering new ways to improve margin, enhance cash flow control and gain greater visibility over financial operations.

Read Damon Chapple’s LinkedIn post here: LinkedIn.