Rapid cash

Soldo Launches Open API and Partners with NatWest Rapid Cash Prolific London

Soldo, the multi-user enterprise expense management solution, today announced a series of enhancements to further expand its offering and add value for existing customers.

New developments facilitate access to credit, simplify accounting processes and provide a unified platform for accounting / ERP and expense management.

They will support the future growth of London-based Soldo’s UK business, which has already quadrupled since January 2019.

NatWest Partnership

Soldo partners with NatWest Rapid Cash to give small businesses better access to cash flow. This collaboration will allow small businesses to easily access a line of credit from the Rapid Cash service to fund their Soldo account.

Quicker access to this financing will give small businesses greater security in the face of irregular cash flow and more opportunities to move the business forward.

Rapid Cash applications can be processed in just 48 hours and NatWest offers competitive rates with no setup fees or monthly fees.

Launch of the open API

Soldo also launched an open API to connect its smart spend platform to companies’ existing core business systems, including accounting, ERP, procurement and expense management solutions.

By creating a connected platform for businesses, Soldo is able to streamline the way businesses manage spend, to help reduce the administrative side of running a business and enable growth.

Darren Upson, VP Small Business Europe at Soldo, said: “These new integrations will give businesses and their accountants even more control and visibility over all aspects of their finances.

“Our aim is to help UK small businesses make better spending decisions, save administration time and run their operations more efficiently.

“The significant increase in our customer base over the past 12 months is a testament to the pain we are solving for small businesses – by removing the burden of managing spend and business expenses so our customers can focus on what they do best. “

A funding round of $ 61 million

The company closed a $ 61 million Series B financing in July and saw its UK business grow 4 times in 2019.

One of the factors that has contributed to this growth is the integration with Xero, which was announced in November of last year at Xerocon London 2018.

Edward Berks, Director of Platform Operations, UK & EMEA: “Small businesses face many challenges when it comes to cash flow.

“So it’s great to see apps like Soldo making better connections to help small businesses and their advisors manage their cash flow more effectively. “

Over 25% of all new Soldo accounts in the UK integrate directly with Xero, the UK’s leading cloud accounting platform for small businesses.

The best two-way integration between Soldo and Xero enables businesses to efficiently manage spend and spend – from payment to reconciliation – transforming the way employee and business expenses are managed.

In addition to ongoing developments to consolidate Soldo’s leadership in the UK market, Soldo has opened an office in Dublin to officially launch Soldo in the Irish market.

Soldo received an e-money license from the Central Bank of Ireland earlier in the year, ensuring that its operations across Europe are guaranteed regardless of the outcome of Brexit.

Carlo Gualandri, Founder and CEO of Soldo, said: “The Irish market offers an incredible opportunity for Soldo.

“This market has historically been underserved by fintech solutions, particularly those aimed at helping businesses increase efficiency and growth, and we are delighted to be able to announce our official launch in Ireland. “

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