FinLync, which claims to be transforming corporate finance and treasury offices, has closed its funding round on $16m.
The round was led by Point72 Ventures, with commitments also coming from Nyca Partners, former Palantir CFO Colin Anderson and Plaid founder William Hockey.
Funds from the investment will be used to further FinLync’s growth, which includes investing in technology and expanding its global reach. Furthermore, the company plans to increase its executive leadership team.
FinLync claims to bring speed, simplicity, transparency and control to finance and treasury professionals around the world. By leveraging bank APIs and embedding its technology within the client’s ERP, FinLync enables teams to have better control and visibility of their data.
Clients can experience real-time payment processing, machine learning-assisted forecasting and reconciliation, and more.
Tripp Shriner, Point72 Ventures partner said, “The corporate treasury function has evolved into an increasingly strategic role. FinLync is accelerating that change with its unique solution for CFOs and treasurers around the world, and think they have an opportunity to transform this area of financial services.
“We are confident in the experience and industry knowledge FinLync’s executive team brings to the table and believe in their vision. We believe FinLync is uniquely positioned to make a significant impact on this area of open banking and corporate treasury and we are encouraged by the clients and partners it has secured. We look forward to supporting the business as it continues to expand globally.â€
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