Two former JP Morgan executives, Antonio Berga and Carlos Serrano, have decided to innovate with the creation of Embat. It is a real-time treasury management platform which have just closed their first round of financing of 1.5 million euros. The new product allows centralize and automate all processes of collection managementpayments and treasury of medium and large international companies.
Embat has aroused the interest of international investment funds, family offices and relevant investors, who in just six months have signed a financing round of 1.5 million euros. Investors include international investment funds such as VentureFriends and 4Founders Capital. In turn, have joined the round international reference business angels such as Borja Prado (founder of Peninsula Capital), Maximilian Tayenthal (founder of N26), investment banking executives and founders of renowned startups such as Belvo, ThePowerMBA or Vivla.
Their extensive professional career at JP Morgan allowed these entrepreneurs to detect the need that financial teams have today to have a financial operating system that centralizes all their banking relationships, while automating treasury management processes, without having to dedicate a lot of resources and time consulting cash and debt positions, building cash flow reports or reconciling bank movements.
“We have incorporated strategic partners that complement us to continue developing new solutions in Embat, among which the automation of payment processes or the structuring of cash pooling solutions to optimize liquidity stand out. We want liquidity to become a growth lever for companies and to be a cornerstone to drive their expansion plans”comments Antonio Berga, co-founder of Embat.
The Embat team already has more than 20 professionals of various nationalities and with experience in companies such as PayPal, Santander, Fintonic, Amazon and ING, among others. They are actively looking for profiles with financial and technological experience to continue executing their expansion plan and join the technology, business development and marketing areas, among others.
Hyperconnectivity of financial information in real time
Embat’s comprehensive platform connects global financial products, ERPs and accounting systems in one place to save up to 75% of the time finance teams dedicate to administrative tasks related to treasury management.
Carlos Serrano, co-founder, assures that “Embat offers endless advantages, including real-time connectivity, greater security and integrity of financial information hosted on cloud servers, and an immediate implementation process. Our innovative technology prevents our clients from monitoring their treasury with 24 or 48 hours of lag and spending months on costly implementations and integrations”.
The company already has several dozen international clients in various sectors, such as the hotel, industrial, technological and real estate sectors, among others. Carlos Isábal, Co-CEO of Prodesa and client, comments: “From Embat I would not only highlight the automation of my treasury management and the real-time visibility of my banking pool, but also the excellent advice and speed of implementation of the solution.”. Once its presence in Spain is consolidated, Embat will begin its expansion to other markets, both in Europe and in Latin America. Embat complies with all the requirements established by the new European regulation on PSD2 payment services, which guarantees the security, integrity and confidentiality of its clients’ financial information.
