Sonovate, the UK’s leading provider of contract finance to recruitment companies, has appointed Richard Mansell as its new chief operations officer to oversee the company’s ambitious growth plans.

Mansell has extensive experience in operations: for the last three years he has worked as operations director at Barclaycard, where he ran three business units and was responsible for driving business transformation and change across the customer journey. He has an MBA from Cardiff Business School and also sits on its advisory board.

In his new role at Sonovate, Mansell will be responsible for the day-to-day running of operations across the company, ensuring the team works cohesively and collectively as the business expands.

Speaking of his move, Mansell commented: “There’s a really dynamic culture at Sonovate and I’m excited to be joining such an innovative company and one that is growing so rapidly.

“There’s a real creative edge to Sonovate and the way it approaches financing in the recruitment space. Its potential is huge and I’m looking forward to working at the company as it continues to expand both within the UK and internationally.”

Founded in 2012 by former recruiters Richard Prime and Damon Chapple, Sonovate provides finance and the associated back office contractor management technology to recruitment agencies placing contractors. It directly addresses the cashflow challenges and administrative headaches these agencies face – something the traditional lenders have consistently failed to do

Damon Chapple, co-founder and co-CEO of Sonovate, commented, “We’re delighted to welcome Richard to the team. His proven success and wealth of experience will be invaluable as we move forward.”

Since its inception, Sonovate has quickly overtaken the banks to become the number one provider of contract finance to the recruitment industry and continues to grow at a fast pace. Its headcount has increased from 23 to 65 in under a year and company turnover now stands at £65 million.