Airbank, which stylises itself as the all-in-one finance management platform for business, has received $20m in its Series A round.
Molten Ventures, a venture investor aimed at high-growth technology companies, served as the lead investor.
Several angel investors also joined the round, including Brex strategic advisor Bruce Wallace, Ramp strategic advisor Guillaume Cabane and Accel Partners senior advisor Cris Conde. The round was also supported by Airbank’s existing backers, including New Wave, Speedinvest and Entrepreneur First.
Funds have been earmarked to expand the Airbank team, invest into product and technical developments and expand into new markets.
Airbank has supported over €1.5bn in annualised transactions in the first six months after its launch.
Companies leveraging Airbank have a range of solutions, ranging from tracking cash flow and automating payments to handling expenses and accelerating accounting, at their disposal. The platform also offers instant insights into finances.
Its solutions integrate into existing systems, connecting to the banks its customer use.
Molten Ventures partner Vinoth Jayakumar said, “Airbank is unique in its vision of building the future of the end-to-end CFO suite.
“While massive companies have been built by becoming the integrated platform for various business functions, there has yet to be an obvious winner in corporate finance. We’ve been spending the last few months thinking about how the finance software stack will evolve and we’re super excited about the platform Airbank is building to be the hub of where all financial decisions are made.”
Molten Ventures has invested into a number of FinTech companies this year. It recently led the $25m Series B of Austria-based MOSTLY AI. The company creates synthetic data sets that reflect the behaviours of customers, without touching the actual data.
Another recent investment from Molten Ventures was a contribution to ICEYE’s $136m funding round. The company offers natural catastrophe solutions that can be used by insurers to improve their loss adjustments and claims.
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