Trovata has closed its Series A funding round after raising $20 million. Wells Fargo Strategic Capital led the investment round with participation from new investors, Capital One Ventures and Pivot Investment Partners, as well as existing early investors, J.P. Morgan and FINTOP Capital.
"We are keen on how technology is reinventing the treasury function into a modern, insight-driven operation that helps our clients deliver on their business strategy," said Basil Darwish, Managing Director of Wells Fargo Strategic Capital, who joins the Trovata board.
Trovata said the investment will be used to deliver new services, accelerate multi-bank APIs globally, and add more bank distribution partners.
By David Kelin
Cash forecasting continues to be the one area that many treasuries struggle with. Treasurers often say that it is better not to forecast at all than forecast inaccurately. An inaccurate forecast has financial consequences – borrowing when you don’t need to or investing excess funds that you have forecast incorrectly.