Madrid-based Embat, known for its real-time treasury management solutions, has secured a hefty €14.7m in Series A funding.
The FinTech has attracted the attention and financial backing of international venture capital fund Creandum, according to a report from EU Startups. The round also featured participation from Samaipata, 4Founders, and Venture Friends, alongside notable business angels like Martin Blessing, the former CEO of Commerzbank.
This financial injection is earmarked for fuelling Embat’s ambitious international expansion plans.
Embat, founded by Antonio Berga, Carlos Serrano, and Tomás Gil, has carved a niche in the FinTech sector by digitising and automating finance teams’ operations. Their goal is to enhance organisational efficiency through their cutting-edge platform. Embat distinguishes itself with its user-friendly experience and ease of implementation, standing out in a crowded marketplace.
The company offers a comprehensive solution that revolutionises corporate treasury management. By centralising collections, payments, and treasury processes, and automating accounting and bank reconciliation, Embat enables financial teams to save up to 75% of the time usually dedicated to these tasks. This efficiency gain, coupled with global cash visibility and automatic monitoring of treasury forecasts, significantly enhances operational efficiency.
Since it was founded in 2021, Embat has raised over $20m, successfully established its footprint in the Spanish market, and seen a fourfold increase in its turnover in the last year. Handling more than three million bank transactions in 2023, representing over $20bn in value, the company now serves over 150 corporate clients across Europe, including notable names like Playtomic, Cabify, Wallapop, and Fever. The team has also expanded significantly, doubling in size to 70 in 2023.
Antonio Berga, co-founder of Embat, said: “Having the support of such a prestigious international fund as Creandum aligns with our aspiration to grow in major European markets. Their experience supporting top-tier fintechs gives us great confidence to continue our exponential growth.”
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