Embat raises €30M to automate corporate treasury with AI

What's the deal? Madrid-based fintech Embat has raised €30M in a funding round led by Cathay InnovationDealroom has a profile for this one. Try Dealroom →, with participation from Creandum. The startup builds AI-powered software that automates corporate treasury management — handling tasks like cash flow forecasting, bank reconciliation, and payments for mid-to-large enterprises.

Why now? Corporate treasury remains one of the least digitised functions in finance. Many companies still rely on spreadsheets and manual processes to manage cash positions across multiple banks. Embat sees an opportunity to replace that patchwork with a single platform, and the rise of capable AI models has made it possible to automate workflows that previously required significant human oversight.

What could go wrong? Treasury management is a conservative, trust-dependent market. Convincing large enterprises to hand over sensitive financial operations to a relatively young startup is never easy. Embat also faces competition from incumbent treasury management systems and well-funded fintech rivals expanding into the same space.

The signal: Creandum, an early backer of Spotify and Klarna, doubling down alongside Cathay Innovation — a fund focused on bridging US and European tech ecosystems — suggests both investors see corporate treasury automation as a category with breakout potential rather than a niche vertical. With mid-to-large enterprises under mounting pressure to modernise finance operations, Embat's €30M raise positions it to set the pace in a segment where no dominant software player has yet emerged.

Read more: Tech Funding News