Embat, a Madrid, Spain-based fintech specializing in corporate treasury management, raised $16 million in Series A funding.
SaaS Investors
The round was led by Creandum, with participation from existing investors Samaipata, 4Founders, and Venture Friends. Angel investors in the company’s latest funding round include Deutsche Bank head Kilian Thalhammer and former Commerzbank CEO Martin Blessing.
Founded in 2003, Creandum is a venture capital firm based in Stockholm, Sweden. The firm seeks to invest in companies operating in B2B payments, SaaS, blockchain, cryptocurrency, augmented reality, big data, cybersecurity, mobile, artificial intelligence & machine learning sectors across Europe.
Embat Use of Funds
The company will use the funds for international expansion.
About Embat
Co-founders Antonio Berga and Carlos Serrano, along with CTO Tomás Gil, Embat is a cloud-based treasury management solution that allows companies to streamline treasury reconciliation, forecasting, and analysis. Embat integrates seamlessly with existing banking relationships and ERPs to manage high volumes of banking transactions. Offering services like banking connectivity and payment automation, Embat aims to revolutionize corporate treasury management.
Funding Details
Company: Embat Technologies, SL.
Raised: $16.0M
Round: Series A
Funding Month: February 2024
Lead Investors: Creandum
Additional Investors: Samaipata, 4Founders and Venture Friends, Kilian Thalhammer and Martin Blessing
Company Website: https://www.embat.io/
Software Category: Financial
Source: https://tech.eu/2024/02/27/fintech-startup-embat-raises-16m-for-corporate-treasury-management-expansion/