Embat Raises €30M to Expand AI Treasury Platform Globally

Embat, a Spanish fintech company specializing in AI-powered treasury management , has closed a €30 million Series B funding round led by Cathay Innovation, one of the largest venture capital funds in the European Union dedicated to AI, which invests globally in AI-powered vertical solutions.

Samaipata, Creandum, 4Founders and Venture Friends, current investors, also participated in the transaction.

With this latest round, the fintech company Embat has raised over €50 million since its founding in 2021, solidifying its position as a leading AI-powered corporate treasury management solution provider in Spain. The funds from this Series B round will be used to fuel the company’s global expansion and invest in product development “to maintain its leadership in agentic artificial intelligence,” as well as in emerging technologies applied to corporate treasury.

Having consolidated its position in Spain, the company has expanded its operations to Germany and the UK, where it already has offices in Munich, Berlin, and London.

The Spanish fintech company currently has a team of 150 professionals and a portfolio of more than 400 corporate clients, including leading names such as Cabify, Cementos Molins, Wallapop, Grupo Construcía, Treatwell and Fever.

Regarding the product, Embat explains that it will continue to integrate AI across all modules of the platform

The flagship of this strategy is TellMe, Embat’s agentive treasury analyst, which represents the company’s most ambitious effort to bring AI to the core of corporate finance.

“Having Cathay Innovation as our lead partner in this Series B funding round is a natural step in our ambition to become the global standard for treasury. Their impressive international network and deep expertise in global go-to-market strategies will be crucial in accelerating our entry into new countries and consolidating our presence in the most demanding markets. The mid- market still represents an immense opportunity, and the vast majority of these companies currently lack the tools they need to manage their growth with the financial sophistication it requires,” says Antonio Berga, co-CEO of Embat.

Founded by Antonio Berga, Carlos Serrano, and Tomás Gil, Embat was established with the mission of providing finance teams with the necessary tools to optimize their treasury and resource management, based on the premise of “technology by financial experts for financial experts.” From its inception, the company has focused on combining in-depth knowledge of corporate banking with the power of cutting-edge technology, eliminating data fragmentation, automating critical processes, and offering real-time cash flow visibility.

Furthermore, according to Embat, its commitment to artificial intelligence has been part of its DNA since day one

They were pioneers in the sector when, in 2022, they developed, together with Google, one of the first use cases of generative AI in the financial sector in Europe, applied to the automation of accounting and bank reconciliation. Currently, that vision has translated into a platform that integrates more than 15,000 banks and the leading ERPs on the market, fulfilling the promise of a smarter, more agile, and truly strategic corporate treasury.

“Partnering with Embat means, above all, supporting a vision we deeply believe in: that of Spanish technology leaders capable of structurally transforming the European landscape. What convinced us, beyond an exceptional team with a solid track record in the financial world, was their ability to respond to some of the most complex corporate challenges. Their solution, powered by cutting-edge AI, offers a concrete and robust answer to the treasury needs of large companies. We are delighted to join them in this new chapter and to contribute to driving what, for us, can become the future global standard for financial management,” says Jacky Abitbol, ​​Managing Partner at Cathay Innovation.

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(Featured image by Mohamed Nohassi via Unsplash)

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