Codat, a software startup that connects small businesses with financial institutions, raised $100 million in an equity funding round led by JPMorgan Chase & Co.’s growth-equity arm.

The transaction values the London-based company at roughly $825 million, Codat co-founder and Chief Executive Officer Pete Lord said in an interview, more than doubling since a Tiger Global-led round last July. New investors Canapi Ventures and Shopify Inc. participated in the latest financing, as did existing backers Index Ventures and PayPal Ventures, Lord said.

“We believe Codat has the potential to fundamentally change the way data is shared across the small-business economy,” J.P. Morgan Growth Equity Partners’ Patrick McGoldrick, who is joining the board, said in an emailed statement. “JPMorgan Chase has an extensive small-business customer base so we understand the power of connecting and standardizing data.”

Founded in 2017, Codat has seen its revenue more than double each year since inception, Lord said. The company is targeting $30 million in annualized run-rate revenue by the end of 2022, a person familiar with the matter said.

“Small businesses are the backbone of the economy but the majority of their systems still don’t speak to one another — which is a problem our technology solves,” Lord said. “We see our role as being the data infrastructure layer for small business at scale.”

An example of Codat’s data connectivity in practice is enabling a coffee shop owner to link accounting software with PayPal’s point of sale platform, Lord said. The startup can offer data sharing with third parties such as banks, so lenders considering providing financing have real-time visibility into a business’s financial health, he said.

Proceeds from the latest funding round will be used to increase the number of integrations to small business financial applications, Lord said. Earlier investors in the company include Plaid and American Express Ventures.