“Can a universal accounting-API aggregator reinvent itself as the advisory-intelligence layer for commercial banks?”
Codat began as a universal SMB accounting/commerce/banking API aggregator serving fintech and lending platforms (Capital on Tap, Wayflyer). By 2024, the company pivoted upstream to commercial banks — launching Spend Insights with J.P. Morgan to help banks identify cardable supplier spend. As of 2026, the homepage positions Codat as 'the banking infrastructure that lets you serve every account like it's your best' and 'advisory intelligence for commercial banking,' with the fintech Connect product a secondary offering.
Codat processes payments through global payments.
Codat connects to bank accounts through Plaid and TrueLayer.
Codat integrates with QuickBooks, Xero, Sage, NetSuite, SAP, Oracle, Dynamics 365, Exact Online and 4 others.
The Embedded Finance Index 2026 maps 4 layers in Codat's stack: Payments / PSP (global payments); Open banking (Plaid and TrueLayer); Unified APIs (QuickBooks Online, QuickBooks Desktop, Xero, Sage Intacct and 22 others); Accounting (QuickBooks, Xero, Sage, NetSuite and 8 others).
Codat is founded in 2017 and headquartered in London, UK.
Codat has raised $100M+ in total (latest round: Series C, 2021).
Get a read on where your own stack stands against Codat and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.