- Embat has raised €30 million in Series B funding led by Cathay Innovation, bringing total funding to more than €50 million.
- Founded in 2021 by former J.P. Morgan executives and Fintonic’s ex-CTO, the fintech is modernising treasury operations for mid-market companies.
- The company plans to accelerate expansion across the UK and Ireland while investing further in its treasury automation platform.
European treasury fintech Embat has secured €30 million in a Series B funding round led by Cathay Innovation, with existing investors Creandum, Samaipata, 4Founders Capital and Venture Friends also participating. The investment pushes Embat’s total funding beyond €50 million since its launch in 2021.
Embat was founded in 2021 by Antonio Berga and Carlos Serrano, both former J.P. Morgan executives, alongside Tomás Gil, former CTO of Fintonic. The founders created the company to modernise finance departments using technology designed by professionals with deep banking and treasury experience.
The startup has built a treasury management platform that allows mid-to-large companies to centralise payments, accounting, liquidity and cash management in real time. Through integrations with more than 15,000 banks and major ERP systems, Embat eliminates disconnected financial data and reduces manual work for finance teams.
At the centre of the platform is TellMe, Embat’s treasury analyst tool. The system automates complex reconciliations, detects cash-flow patterns, improves forecasting, and supports hedging and liquidity decisions. The company says its software can automate up to 80% of repetitive treasury processes.
Embat was also among the early fintech companies in Europe exploring generative and agentic finance systems. In 2022, it partnered with Google to develop automated accounting and bank reconciliation capabilities. Today, the company serves more than 400 corporate customers across Europe, including Treatwell, Northern Data, Fever, PetLab Co., International Schools Partnership, Derwent and Arena Racing Company.
The company operates in a competitive treasury software market alongside firms such as Kyriba, Trovata and Agicap. Embat is aiming to stand out through deeper automation and real-time financial visibility tailored for mid-market businesses.
“Supporting Embat means backing a vision we deeply believe in: the rise of tech leaders with the ambition and ability to reshape Europe’s financial landscape. What stood out to us, beyond an exceptional team with deep roots in finance, is their ability to solve some of the most complex challenges faced by large corporates,” says Jacky Abitol, managing partner at Cathay Innovation.
“Powered by advanced AI, Embat delivers a robust, concrete answer to the treasury needs of global enterprises. We are delighted to join them for this next chapter and help accelerate what we believe can become the global standard for financial management,” he adds.
Looking ahead, the fresh capital will mainly support Embat’s international expansion, particularly across the UK and Ireland. The fintech plans to grow its local teams, strengthen operations, and accelerate market expansion after establishing a presence in London, Manchester and Bristol over the last year.
With offices already spanning Madrid, Berlin, Munich and London, Embat is positioning itself for broader European growth as finance teams increasingly seek faster and more automated treasury solutions.
