Embat Accelerates International Expansion with EUR30 Million Series B to Expand Its AI-powered Treasury Management System

Embat, the AI-powered fintech specialising in treasury management, has successfully completed a €30 million financing round. The Series B was led by Cathay Innovation, a global venture capital firm based in Paris with over €2.5 billion under management. Existing investors such as Creandum, Samaipata, 4Founders, and Venture Friends also participated prominently in the funding round.

Jacky Abitol, Managing Partner at Cathay Innovation, said: “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. 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.”

A significant portion of funding will be directed towards scaling Embat’s operations in the UK and Ireland, expanding its team, and accelerating its go-to-market strategy. Since expanding to the UK&I 12 months ago, the team has integrated its treasury management and agentic AI tools within mid-market companies based in London, Manchester and Bristol.

Antonio Berga, Co-Founder and Co-CEO of Embat, comments: “The completion of our Series B fundraising marks a new milestone for Embat and helps us to supercharge our growth across Europe. Having Cathay Innovation as our lead partner provides the capital, endorsement and strategic backing needed to scale rapidly, particularly in the UK and Ireland. This funding allows us to expand our team and put our technology into the hands of more finance directors, helping them drive immediate efficiency gains and secure real-time visibility over their cash.” 

Embat was a pioneer in generative and agentic AI for the European financial sector. In 2022, it partnered with Google to develop the first AI use case for accounting automation and bank reconciliation. The completion of the fundraising ensures it will continue to invest heavily in its AI-native product suite to maintain its leadership in agentic AI and other emerging technologies utilised by CFOs and corporate treasurers. 

This includes TellMe, its proprietary AI analyst. TellMe operates across treasury, accounting, payments, and cash optimisation. It handles the operational work and reduces manual processes, eliminates data fragmentation, automates critical processes, offers real-time cash visibility and intelligent forecasting and hedging capabilities. 

These strategic priorities reiterate Embat’s mission to tackle critical issues facing CFOs at mid-market firms, many of whom lack the robust tools they need to manage their finance operations efficiently and are often reliant on manual systems and spreadsheets. Clients include Treatwell, Northern Data, Fever, PetLab Co., International Schools Partnership, Derwent and Arena Racing Company.

Theo Wasserberg, Head of UK&I at Embat, added: “The convergence of agentic AI, real-time payments, and our mature open banking infrastructure is fundamentally shifting how finance teams operate. In today’s climate of persistent inflation, fluctuating interest rates and unexpected currency volatility, British and Irish businesses simply cannot afford idle cash or inefficient reconciliation processes. We are providing local finance directors with the tools to automate up to 80% of manual treasury tasks, transforming the finance function from a traditional cost centre into a strategic driver of business resilience.”