The European treasury landscape is shifting as Embat secures €30 million to expand its agentic AI platform. Founded by former J.P. Morgan executives, the fintech aims to automate 80% of manual treasury tasks, providing real-time cash visibility for mid-market firms navigating market volatility.
The corporate treasury landscape is undergoing a significant transition as mid-market firms move away from legacy spreadsheets toward automated, real-time financial ecosystems. In an environment defined by persistent inflation, fluctuating interest rates, and currency volatility, the demand for sophisticated liquidity tools has intensified. While large-scale enterprises often have bespoke systems, mid-market companies have historically lacked the robust tools needed for efficient finance operations.
Embat, an AI-native treasury management system, is addressing this gap by integrating agentic AI with open banking infrastructure. This technology aims to transform the finance function from a traditional cost centre into a strategic driver of business resilience by providing the real-time visibility necessary for modern cash management.
The European treasury technology sector has reached a decisive milestone with Embat’s announcement of a €30 million Series B funding round. The investment was led by Cathay Innovation, which is the largest AI-focused venture capital fund in the European Union. Existing investors including Creandum, Samaipata, 4Founders, and Venture Friends also participated prominently in the round.
Since its inception in 2021, Embat has raised over €50 million. The firm currently employs 150 people and serves 400 corporate clients across Europe, helping them automate up to 80% of manual treasury tasks.
For many corporate treasury teams within large organisations, operations remain hindered by fragmented data and a heavy reliance on manual processes. Embat was founded by former J.P. Morgan executives and the former CTO of Fintonic to provide technology designed by financial experts for financial experts.
The platform’s primary differentiator is TellMe, a proprietary agentic AI analyst. TellMe operates across treasury, accounting, and payments to eliminate data fragmentation. Unlike traditional software, this AI-native suite handles operational work such as bank reconciliation and offers real-time cash visibility and intelligent forecasting.
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, says Jacky Abitol, Managing Partner at Cathay Innovation. What stood out to us is their ability to solve some of the most complex challenges faced by large corporates.
A significant portion of the new funding will be directed towards scaling operations in the UK and Ireland. Since launching in these regions 12 months ago, Embat has integrated its tools within companies based in London, Manchester, and Bristol. The firm is investing heavily in its local footprint and expanding its team to meet growing demand from finance leaders seeking strategic insights.
Theo Wasserberg, Head of UK&I at Embat, notes that British and Irish businesses cannot afford idle cash or inefficient reconciliation processes in the current economic climate. The convergence of agentic AI and real-time payments is fundamentally shifting how these finance teams operate.
The financing arrives as the role of the treasurer evolves towards advanced liquidity management and strategic risk management. By integrating with over 15,000 banks and major ERPs, Embat enables the centralisation of financial operations in real time.
Current clients include Treatwell, Northern Data, Fever, and Arena Racing Company. Antonio Berga, Co-Founder and Co-CEO of Embat, stated that the completion of the Series B helps the company supercharge its growth and put technology into the hands of more finance directors to drive immediate efficiency gains.
Embat was an early pioneer in generative AI for the European financial sector, having partnered with Google in 2022 to develop AI use cases for accounting automation. This funding ensures continued investment in emerging technologies to maintain leadership in the agentic AI space.
This Series B milestone suggests that the experimental phase of AI in treasury is concluding. For Group Treasurers, the focus is shifting away from simple automation towards agentic systems. This represents AI that does not just process data but suggests strategic decisions to optimise liquidity. As the UK market matures, the ability to eliminate data fragmentation will likely become a baseline requirement for maintaining business resilience in a volatile global economy.