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Spain’s Embat, which has raised $16M, plans to compete with Trovata in real-time accounting
For obvious reasons, financial teams can spend a great deal of time on corporate treasury management, accounting and bank reconciliation, so anything that Today Embat, a Spanish fintech which does what they call “real-time treasury management”, has closed a financing round of $16 million Series AS led by Creandum. Also participating was Spanish VC Samaipata, 4Founders, and Venture Friends in Greece.
For obvious reasons, financial teams can spend a great deal of time on corporate treasury management, accounting and bank reconciliation, so anything that speeds up that process usually garners a lot of interest. Co-founders Antonio Berga, Carlos Serrano (both former JP Morgan executives), and Tomás Gil started the company in 2021 to digitise and automate process for finance teams. Tomás Gil, co-founder and CTO of Embat, said the company has “significantly improved” its accounting and bank reconciliation module and was now applying AI to its platform.
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