Soldo launches open API with NatWest Rapid Cash

Multi-user business spending solution Soldo has announced a series of enhancements to further develop its offering and add value for existing customers.

The new developments facilitate access to credit, simplify accounting processes and offer a unified platform for accounting/ERP and expense management. They will support the future growth of Soldo’s UK business, which has already quadrupled since January 2019.

Soldo is partnering with NatWest Rapid Cash to give small businesses better access to cash flow. This collaboration will provide small businesses with easy access to a line of credit from the Rapid Cash service to fund their Soldo account.

Faster access to this funding will give small businesses greater security when faced with irregular cash flow and more opportunity to drive the business forwards.

Soldo has also launched an open API to connect its smart spending platform with companies’ existing core business systems, including accounting, ERP, procurement and expense management solutions. By creating a connected platform for business, 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 greater control and visibility over every aspect of their finances. We’re all about helping the UK’s small businesses make better spending decisions, save time on admin and run their operations more efficiently.

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

Soldo closed a $61 million Series B funding round in July, and has seen a 4x growth of the UK business in 2019.

Carlo Gualandri, Founder and CEO at Soldo, said: “The Irish market provides an amazing opportunity for Soldo.

“This market has historically been underserved by fintech solutions, especially those focused on helping businesses drive efficiency and growth, and we’re delighted to be able to announce our official launch in Ireland.”