# Richard Prime

> Richard Prime is the London-based co-founder and co-CEO of Sonovate, which provides funding, payments and operational technology to recruitment agencies, staffing platforms and consultancies. A former SThree recruitment executive, he founded the business with Damon Chapple and helped redirect its early recruitment-startup package towards contract finance. Sonovate reports more than £8 billion funded since 2014.

- **Role:** Co-founder and Co-CEO at Sonovate
- **Organizations:** Sonovate, SThree
- **Education:** Business Leaders Programme, Henley Business School, Royal Russell School
- **Known for:** Co-founded Sonovate and helped focus its offer on specialist contract finance., Built a business with Damon Chapple that reports more than £8bn funded since 2014, 3,300+ customers supported and funding across 40+ countries., Helped establish a finance business backed by angel and institutional capital.

## Career timeline

- **1996** — Joined SThree, according to his 2023 Recruiting Future interview.
- **2011** — Co-founded Sonovate with Damon Chapple; year used by the company’s current history.
- **2012** — Early commercial launch of the recruitment-startup package, as described in Prime’s first-person account.
- **2014** — Sonovate began funding invoices after focusing its offer on contract finance.
- **2015** — Described leading Sonovate from London while Chapple headed Cardiff; the company had £4m angel investment from Paul Birch and a £10m PNC funding line.
- **2019** — Sonovate announced a £110m debt-and-equity package and reached £1bn in cumulative invoice funding.
- **2022** — Sonovate reached £3bn in cumulative funding.
- **2023** — Discussed his recruitment background and embedded finance on Recruiting Future; Sonovate launched its enterprise platform.
- **2026** — Sonovate announced a £210m three-year facility supported by DZ BANK and M&G.

## Achievements

- Co-founded Sonovate and helped focus its offer on specialist contract finance.
- Built a business with Damon Chapple that reports more than £8bn funded since 2014, 3,300+ customers supported and funding across 40+ countries.
- Helped establish a finance business backed by angel and institutional capital.

## Latest updates

- **2026-03** — Sonovate announced a £210m, three-year funding facility supported by DZ BANK and M&G, with funding available in nine currencies.
- **2026-10** — Research snapshot: Sonovate’s current company page lists Prime as co-founder and co-CEO and reports £8bn+ funded since 2014, 3,300+ customers supported and 40+ countries funded. These are company-reported cumulative figures, not a dated October announcement.

## Links

- Website: https://www.sonovate.com/
- LinkedIn: https://www.linkedin.com/in/richardprime/

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Profile page: https://yespress.io/richard-prime
Published by YesPress — https://yespress.io
Last updated: 2026-10-21