💰 Embat Raises $16 Million in Series A Funding for Real-Time Treasury Management
Given the nature of their tasks, financial teams often devote a significant amount of time to corporate treasury management, accounting, and bank reconciliation. As a result, companies like Today Embat, a Spanish fintech that specializes in real-time treasury management, have become even more valuable. Their recent financing round, a Series AS totaling $16 million, was led by Creandum, with Spanish VC Samaipata, 4Founders, and Venture Friends from Greece also providing funding.
Embattled Embat, securing $16M in funding, aims to rival Trovata in real-time accounting. Stay tuned! #ENBLE
Financial teams around the world often find themselves spending a significant amount of time on tasks such as corporate treasury management, accounting, and bank reconciliation. Naturally, any solution that can speed up these processes while maintaining accuracy is highly sought after. That’s where Embat, a Spanish fintech company, comes into play.
Embat has recently closed a successful financing round, raising an impressive $16 million in Series A funding. This round was led by Creandum, a renowned venture capital firm, with participation from other notable investors, including Samaipata, 4Founders, and Venture Friends. Angel investors like Kilian Thalhammer, the head of Deutsche Bank, and Martin Blessing, former CEO of Commerzbank, also joined the funding round.
Founded in 2021 by Antonio Berga, Carlos Serrano, and Tomás Gil, all of whom are former JP Morgan executives, Embat aims to digitize and automate finance processes. Their solution provides real-time treasury management, automates accounting and bank reconciliation, and centralizes collections, payments, and treasury processes. By doing so, Embat helps finance teams save valuable time.
Embat boasts an impressive client base of 150 corporate clients across Europe, including well-known companies like Playtomic, Cabify, Wallapop, and Fever. Last year, the company partnered with Google Cloud’s Vertex AI platform in an effort to reduce errors for accounting teams. This strategic collaboration highlights Embat’s commitment to staying at the forefront of technology.
Tomás Gil, co-founder and CTO of Embat, revealed that the company has made significant improvements to its accounting and bank reconciliation module. Moreover, they have integrated artificial intelligence (AI) into their platform, further enhancing its capabilities.
Although Embat faces competition from industry players like Kyriba and Sage XRT, there is a particular startup in the United States that it goes head-to-head with – Trovata. Trovata has already raised an impressive $57.6 million to date and has reached the post-Series B stage. This ongoing rivalry speaks to the high stakes in the real-time treasury management market.
Embat’s innovative solution has already attracted the attention of major players in the industry. National Australia Bank and J.P. Morgan have both chosen to implement Embat’s solution to streamline their finance operations. The adoption of Embat by such prominent financial institutions is a testament to the company’s credibility and effectiveness.
When asked about the competition, Antonio Berga, co-founder of Embat, refrained from directly commenting on specific rivals. However, he did shed light on Embat’s unique value proposition. Berga emphasized their focus on APIs (Application Programming Interfaces) instead of traditional protocols like SWIFT, which enables seamless global connectivity and substantial cost savings. Additionally, Embat’s solution offers automated cash accounting, eliminating the need for manual data entry in ERP systems.
🤔 Readers’ Questions Answered:
1. How does Embat’s real-time treasury management benefit finance teams? Embat’s real-time treasury management solution automates accounting and bank reconciliation, centralizes collections, payments, and treasury processes, ultimately saving finance teams valuable time. By streamlining these operations, finance professionals can focus on higher-value tasks and strategic decision-making.
2. What sets Embat apart from its competitors? Embat differentiates itself through its emphasis on APIs, which offers global connectivity and substantial cost savings compared to traditional protocols like SWIFT. Additionally, Embat’s solution provides automated cash accounting, eliminating the need for manual data entry in ERP systems. These unique features contribute to Embat’s competitive edge in the market.
3. Who are some notable clients that have chosen Embat’s solution? Embat has an impressive clientele, with notable companies like Playtomic, Cabify, Wallapop, and Fever using their real-time treasury management solution. Moreover, Embat’s solution has been adopted by industry giants National Australia Bank and J.P. Morgan, further highlighting the company’s credibility and effectiveness in the financial industry.
🔮 Future Developments and Impact:
The success of Embat’s recent funding round, coupled with their growing client base, underscores the increasing demand for real-time treasury management solutions. As financial teams continue to seek ways to optimize their processes, fintech companies like Embat are at the forefront of innovation.
In the future, we can expect to see further advancements in AI integration within Embat’s platform. The utilization of AI will enhance the speed, accuracy, and automation of financial operations, allowing finance teams to work more efficiently and effectively.
As the real-time treasury management market evolves, it is crucial for companies like Embat to stay ahead of the competition. Ongoing collaborations with tech giants like Google Cloud ensure that Embat is well-equipped to meet the ever-changing needs of their clients.
By continually improving and expanding their solution, Embat is poised to revolutionize the world of corporate treasury management. Their commitment to innovation and the financial industry’s growing reliance on technology make Embat a company to watch closely in the coming years.
🔗 Reference Links:
- Embat – Official Website
- Creandum
- Samaipata
- 4Founders
- Venture Friends
- Trovata – Official Website
- National Australia Bank
- J.P. Morgan
📢 Do you want to streamline your finance operations? Discover how Embat’s real-time treasury management solution can save your finance team precious time and resources. Share your thoughts and experiences in the comments below! 💬
