Embat has secured €30 million in a Series B funding round as the AI-powered treasury management fintech looks to accelerate its expansion across Europe, particularly in the UK and Ireland.
The funding round was led by Cathay Innovation, with participation from existing investors Creandum, Samaipata, 4Founders and Venture Friends.
A significant portion of the new capital will be used to strengthen Embat’s operations in the UK and Ireland, where the company has been expanding over the last year. The investment will also support hiring efforts and a broader go-to-market strategy across Europe.
Founded as an AI-focused treasury management platform, Embat provides tools designed to help finance teams automate processes such as bank reconciliation, payments, cash management and forecasting. Its proprietary AI assistant, TellMe, supports treasury and accounting functions by reducing manual workloads and improving real-time financial visibility.
The company focuses on solving operational challenges for mid-market businesses, many of which still rely on spreadsheets and manual systems for treasury management. Embat’s client base includes companies such as Treatwell, Fever, PetLab Co. and Arena Racing Company.
Jacky Abitol, Managing Partner at Cathay Innovation, said: “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.”
Antonio Berga, Co-founder and Co-CEO of Embat, said the funding would help the company “supercharge” its European expansion and bring its treasury automation technology to more finance teams.
Theo Wasserberg, Head of UK & Ireland at Embat, added that businesses are increasingly looking for automation tools to improve efficiency and gain real-time visibility over cash management amid ongoing economic uncertainty.