Treasury operating systems (TOS) provider Finmo has raised $18.5m in an oversubscribed Series A funding round, to take its total funding to $27m.
The round was co-led by Quona Capital and PayPal Ventures. It also had participation from Citi Ventures.
Quona Capital co-founder and managing partner Ganesh Rengaswamy said: “With their exceptional founding team and strong financial discipline, we believe Finmo is well-positioned to redefine how businesses manage payments, liquidity and risk, and we are excited to support their vision to revolutionise treasury management and cross-border payments for businesses across APAC and beyond.”
The funding will support the company’s expansion, expedite product development, and enhance its artificial intelligence (AI)-driven treasury management solutions.
Finmo also plans to offer advanced solutions that enhance operational efficiency while bolstering institutions in their efforts to make informed financial decisions.
According to the company, backing from investors highlights the increasing demand for modern treasury management solutions.
Founded in 2021, Finmo offers a unified TOS designed to streamline payment processes, enhance cash flow visibility, manage foreign exchange risks, ensure compliance, and automate manual tasks.
It also optimises financial decision-making, including excess liquidity management.
The platform features real-time payment capabilities, modular scalability, and a focus on regulatory compliance, enabling businesses to manage cross-border payments and liquidity within a single system.
Finmo also addresses real-world challenges faced by finance professionals and chief financial officers (CFOs).
Finmo CEO and co-founder David Hanna said: “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.”
