Finmo Secures $18.5 Million In Series A Funding To Expand Treasury Solutions
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Finmo, a company from Singapore that helps businesses with treasury work, said that it had raised $18.5 million in its Series A funding round. It explained that this amount had brought its total funding to $27 million.
The company stated that Quona Capital and PayPal Ventures had led the funding round, while Citi Ventures had also taken part. These investors usually focuse on fintech companies with new ideas. It added that their support showed that Finmo’s service was valuable.
Finmo Expands Treasury Solutions With AI Investment And Global Growth Plans
Finmo said more businesses now want a new way to handle treasury work. It stated that with this new funding, it would grow its products faster, put money into AI, and reach more countries.
The company wants to keep giving businesses smart tools to improve how they handled money. It stated that its system helped businesses work better and make informed financial choices.
David Hanna, Chief Executive Officer and Co-Founder, said the funding proved Finmo’s plan to change how businesses handled their treasury work. He said 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.
Finmo said its system will help businesses manage payments across countries, handle liquidity, and deal with complex financial issues easily. According to the firm, it was launched in 2021 with the goal of making treasury work simple for all businesses.
Finmo Enhances Treasury Management With Scalable Solutions And Global Support
Finmo said its platform will help 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 includes real-time payments, a flexible design that could grow with businesses, and strong compliance features. This has enabled businesses manage money better, improve liquidity, and avoid financial risks—all in one place.
The company said today’s businesses work across countries and needs connected solutions to handle their treasury work. Finmo has been designed with an understanding of what finance professionals need.
Ashish Aggarwal, Partner at PayPal Ventures, said that Finmo was changing treasury work by solving important problems for businesses in today’s financial world. According to him, PayPal Ventures was happy to support Finmo’s journey as it continue 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.
