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Finmo, a treasury control and bills platform, has secured US$18.5 million in an oversubscribed Sequence A investment spherical, bringing its overall investment to US$27 million.
The oversubscribed spherical used to be co-led by way of Quona Capital and PayPal Ventures, with participation from Citi Ventures.
Finmo plans to make use of the brand new capital to boost up product construction, put money into AI features, and amplify its international achieve.
The corporate supplies a unified Treasury Working Machine (TOS) that streamlines monetary operations, automates treasury processes, optimises liquidity control, and complements monetary decision-making and liquidity optimisation.
Its platform gives real-time bills, multi-currency account control, automatic hedging, and aggressive FX charges.
It additionally includes a modular design for scalability, robust regulatory compliance measures, and seamless integration with present monetary methods to improve companies working throughout a couple of markets.
David Hanna
“We’re extremely joyful to have the improve of esteemed buyers corresponding to PayPal Ventures, Quona, and Citi Ventures. This investment validates our imaginative and prescient of remodeling how international companies set up their treasury serve as and permits us to scale our platform, beef up our generation additional, and amplify into new markets.
Underpinning these types of tendencies will likely be our persisted dedication to concentrate on our shoppers’ evolving must beef up operational potency, possibility mitigation, and strategic monetary decision-making.”
stated David Hanna, CEO and Co-Founding father of Finmo.
Ganesh Rengaswamy
“Finmo’s leading edge Treasury Working Machine addresses crucial ache issues for companies working in a couple of geographies, empowering them with seamless money and FX control features.
With their remarkable founding group and robust monetary self-discipline, we consider Finmo is well-positioned to redefine how companies set up bills, liquidity and possibility, and we’re excited to improve their imaginative and prescient to revolutionize treasury control and cross-border bills for companies throughout APAC and past.”
stated Ganesh Rengaswamy, Co-Founder and Managing Spouse at Quona.
Finmo secured a Main Cost Establishment (MPI) license from the Financial Authority of Singapore in August 2023.
Featured symbol: (From left to proper) Thomas Kang, Leader Income Officer; Akhil Nigam, Leader Product Officer; David Hanna, Leader Govt Officer; Raj Vimal Chopra, Leader Generation Officer; Richard Oh, Leader Technique Officer.
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