Richard Prime



Richard Prime co-founded Sonovate in 2013 with his co-CEO Damon Chapple, to bring to market a platform that enables modern businesses globally to scale while having certainty and security over the payment of their contingent workforce. 
Today, Sonovate is the leading provider of embedded finance and payment solutions for the contingent workforce. Its finance and technology services cater to recruitment businesses, consultancies, and labour marketplaces who place contractors and freelancers around the world. Sonovate’s fintech platform and expert service deliver swift credit decisions, same-day funding, credit insurance, and collections services, empowering companies to concentrate on expanding their business, confident that funds are in place to help meet payment deadlines. Since it started funding in 2014, Sonovate has lent over £3.5 billion to 3,300 businesses and 40,000 workers in 44 countries. 
Before establishing Sonovate, Richard spent more than 12 years in senior leadership roles at SThree Plc, the £1.3bn recruitment group that specialises in the STEM sectors. There, Richard was appointed to the Executive Board in 2007 and was responsible for a number of SThree's consultancy brands in multiple territories. 
While at SThree, Richard identified a common disconnect that exists between businesses that rely on contract workers and their traditional finance providers. Together with Damon Chapple, Richard created a resolution to the frustration felt by businesses that can't secure the right sort of funding to suit their cash flow and working capital requirements. In Sonovate, Richard and Damon have built an embedded finance platform that puts flexibility and on-demand funding at its heart. 

Come and see Richard Prime speak at the The AltFi Festival of Finance 2023 on 25th April 2023

Event Sessions Featuring Richard Prime


The Lending Revolution In 2022: From Challenger Credit Bureaus To Embedded Lending

AltFi Lending Summit 2022 - Thursday 3 November 2022


How Are Lenders Adapting To The Post-Covid Lending Environment?

AltFi Festival of Finance 2022 - Wednesday 27 April 2022


Taking Stock Of Credit Underwriting In 2022

AltFi Lending Forum 2021 - Thursday 4 November 2021


Articles By Richard Prime

Articles Featuring Richard Prime

Sonovate hits £3.5bn in funding after record 2022

10th March 2023 | Amelia Isaacs

Taking stock of credit underwriting in 2022

16th November 2021 | Aisling Finn

Recruitment lender tops £1bn funding mark

10th December 2019 | John Reynolds

Sizing Up the Recruitment Finance Opportunity

19th January 2015 | Ryan Weeks