Singapore’s Finmo raised $18.5 M Series A funding from Quona Capital, PayPal Ventures
Finmo, a treasury operating system (TOS) based in Singapore, announced on Thursday that its $18.5 million Series A funding round was successfully oversubscribed, increasing its total funding to $27 million.
In a statement, the company said that PayPal Ventures and Quona Capital, along with Citi Ventures, co-led the funding round.
According to the statement, these investors, who are well-known for concentrating their investments on innovative fintech businesses, strongly endorse Finmo’s value proposition.
The statement claims that this investment demonstrates the rising need for a creative strategy in contemporary treasury management.
Finmo intends to increase its global presence, invest in AI capabilities, and speed up product development with the new funding.
By better utilizing the capabilities of its treasury operating system, the company hopes to keep providing innovative solutions that not only increase operational efficiency but also enable businesses to make wise financial decisions.
“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,” said David Hanna, Chief Executive Officer and Co-Founder of Finmo.
With the help of the global treasury operating system Finmo, companies can easily handle cross-border payments, maximize liquidity, and handle complex financial issues.
Established in 2021, the company wants to make treasury operations easier for companies of all kinds.
Given the complexity of contemporary treasury operations, it provides a unified platform.
Effective treasury management in a global setting is a requirement that the Finmo TOS is intended to address.
It optimizes financial decision-making, including excess liquidity management, automates manual tasks, improves cash flow visibility, controls foreign exchange (FX) risks, assures compliance, and streamlines payment procedures.
