Finmo, a Singapore-based treasury operating system (TOS) for global companies, has raised $18.5 million in Series A funding, bringing its total funding to $27 million.
Investors
The oversubscribed round was co-led by Quona Capital and PayPal Ventures, with participation from Citi Ventures.
Quona Capital is a global venture firm focused on inclusive fintech. It invests in startups that expand access to financial services for consumers and growing businesses across India, Southeast Asia, Latin America, Africa, and the Middle East.
PayPal Ventures is a global venture capital firm that invests in innovative companies in financial technology, artificial intelligence, and other emerging sectors. Based in San Jose, California, it was founded in 2002.
Finmo Use of Funds
The company will use the funds to accelerate product development, invest in AI capabilities, and expand its global reach.
About Finmo
Founded in 2021 by David Hanna, Akhil Nigam, Raj Vimal Chopra, Thomas Kang, and Richard Oh, Finmo is a global treasury operating system that empowers businesses to manage cross-border payments, optimize liquidity, and navigate financial complexities with ease. Finmo is committed to simplifying treasury operations for businesses of all sizes.
Funding Details
Company: Finmo Tech Pte Ltd
Raised: $18.5M
Round: Series A
Funding Date: February 2025
Lead Investors: Quona Capital, PayPal Ventures
Additional Investor: Citi Ventures
Company Website: https://finmo.net/
Software Category: Treasury Management
Source: https://www.prnewswire.com/apac/news-releases/finmo-secures-us18-5-million-to-revolutionize-treasury-management-302373099.html