PayPal Ventures and American Express Ventures have both invested in API FinTech Codat.
Codat offers a platform for business data, aimed at SMEs.
FinTechs and financial institutions can use its API to access the business’ data.
This improves the information flow and helps banks offer services to small businesses.
What does this mean?
The companies join Index Ventures, which invested in Codat’s Series A round. As well as announcing the new investments, Codat has also announced its launch in the US.