This week, treasury operating system Finmo announced its oversubscribed $18.5 million Series A round, bringing its total funding to $27 million. Finmo plans to accelerate its product development, invest in AI capabilities, and expand its global reach. The round was co-led by Quona Capital and PayPal Ventures with participation from Citi Ventures.
The Finmo treasury operating system streamlines payment processes, enhances cash flow visibility, manages FX risks, ensures compliance, automates manual tasks, and optimizes financial decision-making, including excess liquidity management. With features such as real-time payment capabilities, modular design for scalability, and a strong emphasis on regulatory compliance, Finmo allows organizations to optimize their cash management, enhance liquidity, and mitigate financial risks.
“We are thrilled to have the support of esteemed investors such as PayPal Ventures, Quona, and Citi Ventures,” said David Hanna, CEO and co-founder of Finmo. “This funding validates our vision of transforming how global businesses manage their treasury function and enables us to scale our platform, enhance our technology further, and expand into new markets. Underpinning all these developments will be our continued commitment to focus on our customers’ evolving needs to enhance operational efficiency, risk mitigation, and strategic financial decision-making.”
“Finmo is redefining treasury operations,” said Ashish Aggarwal, partner at PayPal Ventures. “Their innovative approach addresses critical pain points faced by businesses in today’s dynamic financial landscape. We are proud to support their journey as they continue to deliver transformative solutions that empower organizations globally.”
“Finmo’s innovative Treasury Operating System addresses critical pain points for businesses operating in multiple geographies, empowering them with seamless cash and FX management capabilities,” added Ganesh Rengaswamy, co-founder and managing partner at Quona. “With their exceptional founding team and strong financial discipline, we believe (it) is well-positioned to redefine how businesses manage payments, liquidity and risk, and we are excited to support their vision to revolutionize treasury management and cross-border payments for businesses across APAC and beyond.”
