Finmo, a treasury management and payments platform, has secured US$18.5 million in an oversubscribed Series A funding round, bringing its total funding to US$27 million.
The oversubscribed round was co-led by Quona Capital and PayPal Ventures, with participation from Citi Ventures.
Finmo plans to use the new capital to accelerate product development, invest in AI capabilities, and expand its global reach.
The company provides a unified Treasury Operating System (TOS) that streamlines financial operations, automates treasury processes, optimises liquidity management, and enhances financial decision-making and liquidity optimisation.
Its platform offers real-time payments, multi-currency account management, automated hedging, and competitive FX rates.
It also features a modular design for scalability, strong regulatory compliance measures, and seamless integration with existing financial systems to support businesses operating across multiple markets.
“We are thrilled to have the support of esteemed investors such as PayPal Ventures, Quona, and Citi Ventures. This funding validates our vision of transforming how global businesses manage their treasury function and enables us to scale our platform, enhance our technology further, and expand into new markets.
Underpinning all these developments will be our continued commitment to focus on our customers’ evolving needs to enhance operational efficiency, risk mitigation, and strategic financial decision-making.”
said David Hanna, CEO and Co-Founder of Finmo.
“Finmo’s innovative Treasury Operating System addresses critical pain points for businesses operating in multiple geographies, empowering them with seamless cash and FX management capabilities.
With their exceptional founding team and strong financial discipline, we believe Finmo is well-positioned to redefine how businesses manage payments, liquidity and risk, and we are excited to support their vision to revolutionize treasury management and cross-border payments for businesses across APAC and beyond.”
said Ganesh Rengaswamy, Co-Founder and Managing Partner at Quona.
Finmo secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore in August 2023.
Featured image: (From left to right) Thomas Kang, Chief Revenue Officer; Akhil Nigam, Chief Product Officer; David Hanna, Chief Executive Officer; Raj Vimal Chopra, Chief Technology Officer; Richard Oh, Chief Strategy Officer.
