Embat secures $30m funding for growth

Spanish treasury management fintech Embat has raised €30 million in a Series B funding round led by Cathay Innovation, with participation from existing investors including Creandum, Samaipata, 4Founders Capital and Venture Friends, as the company accelerates its push to become a major European treasury technology platform.

The Madrid-headquartered fintech, founded in 2021 by former J.P. Morgan executives Antonio Berga and Carlos Serrano alongside former Fintonic CTO Tomás Gil, said the new funding will support expansion across Europe, with a particular focus on the UK and Ireland.

Embat has positioned itself as an AI-native treasury management platform aimed at mid-market and enterprise finance teams still reliant on spreadsheets and fragmented banking systems. Its platform connects with more than 15,000 banks and major ERP systems, giving treasury teams real-time visibility over cash positions, payments, reconciliation and liquidity forecasting.

Central to the company’s proposition is “TellMe”, Embat’s AI-powered treasury analyst, which automates reconciliation processes, identifies cash flow patterns and supports forecasting and hedging decisions. The company claims its technology can automate up to 80% of manual treasury tasks.

The investment reflects growing investor interest in treasury technology platforms that combine automation, open banking connectivity and artificial intelligence at a time when corporate finance teams are under pressure to improve liquidity visibility and reduce operational inefficiencies.

Embat currently serves more than 400 corporate clients across Europe, including Treatwell, Fever, Northern Data, PetLab Co. and Arena Racing Company. The company employs around 150 staff across offices in Madrid, London, Berlin and Munich.

Cathay Innovation managing partner Jacky Abitol said Embat was addressing “some of the most complex challenges faced by large corporates” and described AI-driven treasury systems as becoming increasingly essential infrastructure for enterprise finance operations.

The latest round takes Embat’s total funding since launch to more than €50 million. The company previously raised a $16 million Series A round in 2024 led by Creandum.

The funding comes amid increasing competition in the treasury technology sector, where vendors including Kyriba, Agicap and Trovata are all expanding AI capabilities within their platforms. Embat is betting that embedded AI and real-time treasury orchestration will become a core requirement for CFOs and treasurers managing increasingly complex global cash operations.