Finmo, the Singapore-based treasury operating system (TOS), has on Thursday announced its successful oversubscribed $18.5 million Series A funding round, bringing its total funding to $27 million.

The firm said in a statement that the funding round was co-led by investors Quona Capital and PayPal Ventures with participation from Citi Ventures.

Known for their investment focus on cutting-edge fintech companies, these investors’ support is a strong validation of Finmo’s value proposition, said the statement.

According to the statement, this investment underscores the growing demand for an innovative approach to modern treasury management.

With the new funding, Finmo plans to accelerate its product development, invest in AI capabilities, and expand its global reach.

The company aims to continue delivering cutting-edge solutions that not only improve operational efficiency but also empower organizations to make informed financial decisions by better harnessing the power of its treasury operating system.

“This funding validates our vision of transforming how global businesses manage their treasury function and enables us to scale our platform, enhance our technology further, and expand into new markets,

“Underpinning all these developments will be our continued commitment to focus on our customers’ evolving needs to enhance operational efficiency, risk mitigation, and strategic financial decision-making,” said David Hanna, Chief Executive Officer and Co-Founder of Finmo.

Finmo is a global treasury operating system that empowers businesses to manage cross-border payments, optimize liquidity, and navigate financial complexities with ease.

Founded in 2021, the firm aims to simplify treasury operations for businesses of all sizes.

It offers a unified platform that addresses the complexities of modern treasury operations.

The Finmo TOS is designed to address the need for effective treasury management in a global context.

It streamlines payment processes, enhances cash flow visibility, manages foreign exchange (FX) risks, ensures compliance, automates manual tasks, and optimizes financial decision-making, including excess liquidity management.

With features such as real-time payment capabilities, modular design for scalability, and a strong emphasis on regulatory compliance, the firm helps organizations to optimize their cash management, enhance liquidity, and mitigate financial risks—all within a single platform.

As today’s organizations are global players that demand integrated solutions to streamline their treasury functions, Finmo said it was developed with a first-hand understanding of what treasurers and Chief Financial Officers need, ensuring that the platform addresses real-world challenges faced by finance professionals today.

“Finmo is redefining treasury operations. Their innovative approach addresses critical pain points faced by businesses in today’s dynamic financial landscape,

“We are proud to support their journey as they continue to deliver transformative solutions that empower organizations globally,” said Ashish Aggarwal, Partner at PayPal Ventures.

Meanwhile, Ganesh Rengaswamy, Co-Founder and Managing Partner at Quona, which co-led the Series A, said Finmo’s innovative TOS addresses critical pain points for businesses operating in multiple geographies, empowering them with seamless cash and FX management capabilities.

“With their exceptional founding team and strong financial discipline, we believe Finmo is well-positioned to redefine how businesses manage payments, liquidity and risk, and we are excited to support their vision to revolutionize treasury management and cross-border payments for businesses across Asia Pacific (APAC) and beyond,” he added.

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