Finmo Secures $18.5 Million In Oversubscribed Series A Funding
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Finmo, a Singapore-based treasury operating system (TOS) provider, announced on Thursday that it raised $18.5 million in an oversubscribed Series A funding round, bringing its total funding to $27 million.
The company stated that Quona Capital and PayPal Ventures had led the funding round, with Citi Ventures also joining. It pointed out that these investors often supported new fintech companies. Finmo said that their support showed strong belief in its work.
Finmo Secures Funds to Improve Treasury Tools and Grow Worldwide
The company explained that this investment showed that more businesses now wanted a new way to handle treasury tasks. It added that with this new funding, it would grow its products faster, put money into AI, and reach more countries.
Finmo stated that it would keep giving businesses smart tools to improve how they handled money. It said that its system helped businesses work better and make informed financial choices.
David Hanna, Chief Executive Officer and Co-Founder, said that the funding proved Finmo’s plan to change how businesses handled their treasury work.
He explained that the company would now grow its platform, improve its technology, and move into new markets. He added that Finmo would always focus on customers’ changing needs, helping them work better, reduce risks, and plan their finances wisely.
The company stated that its system helped businesses manage payments across countries, handle liquidity, and deal with complex financial issues easily. It explained that it had started in 2021 with the goal of making treasury work simple for all businesses.
Finmo Improves Treasury Work With New Ideas
Finmo pointed out that its platform helped with treasury work by making payment tasks easier and improving cash flow tracking. It also stated that the system managed foreign exchange (FX) risks, followed rules, and handled financial decisions, such as managing extra money.
It stated that the system included real-time payments, a flexible design that could grow with businesses, and strong compliance features. It explained that this helped businesses manage money better, improve liquidity, and avoid financial risks—all in one place.
The company noted that today’s businesses worked across countries and needed connected solutions to handle their treasury work. It explained that Finmo had been designed with an understanding of what finance professionals needed.
Ashish Aggarwal, Partner at PayPal Ventures, said that Finmo was changing treasury work by solving important problems for businesses in today’s financial world. He explained that PayPal Ventures was happy to support Finmo’s journey as it continued to provide strong solutions for businesses worldwide.
Ganesh Rengaswamy, Co-Founder and Managing Partner at Quona, stated that Finmo’s system helped businesses work across different countries by giving them smooth ways to manage cash and FX.
He added that Finmo’s strong team and careful money management put it in a good position to change treasury and cross-border payments across Asia Pacific and beyond.
