Codat to secure strategic investments from PayPal Ventures and American Express Ventures.

Codat, a London, UK-based builder of an API-based platform for business data, announced getting into a strategic investment agreement.

The deal, which has financial specifics undisclosed, was made with the American financial institutions Paypal (through Paypal Venture) and American Express (through Amex Ventures). Existing investors from Index Ventures contributed to the round.

Codat, founded in 2017 by CEO Peter Lord, Alex Cardona and David Hoare, developed an API solution connecting the tools and services that small businesses need for their operations and handles the heavy lifting of integrations—ultimately leaving providers free to focus on improving their offerings for small businesses. Customers include lenders, insurers, providers working in payments, point of sale software, corporate cards, debt collection, venture capital, automation, and expense management.

Codat previously raised $10 million from Index Ventures.

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