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Embat accelerates international expansion with EUR30 million Series B to expand its AI-powered treasury management system

May 12, 2026
Europe

  • Cathay Innovation is the lead investor, one of the largest AI-focused venture capital funds globally. Existing investors also participated prominently.
  • Embat has raised over €50 million since its inception in 2021. Its team of 150 people and AI technology enables 400 corporate clients across Europe to automate up to 80% of manual treasury tasks.

 

Madrid, 12/05/2026 – Embat, the AI-powered fintech specialising in treasury management, has successfully completed a €30 million (~$33 million USD) 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 international operations, expanding its team, and accelerating its global go-to-market strategy. The company has continued to integrate its treasury management and agentic AI tools within mid-market companies across Europe.

 

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. Cabify, and Dojo.

 

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 these teams operate. In today’s climate of persistent inflation, fluctuating interest rates and unexpected currency volatility, businesses all around the globe 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.”

 

 

 

 

About Embat

 

Embat is a fintech specialising in AI-driven treasury management that enables mid-to-large corporations to centralise their financial operations in real time. Founded by Antonio Berga and Carlos Serrano – former J.P. Morgan executives with an extensive track record in corporate and investment banking – alongside Tomás Gil – former CTO of Fintonic – the platform was born with the mission of digitising the finance department under a clear premise: technology by financial experts for financial experts.

Through its hybrid connectivity, Embat integrates with over 15,000 banks and major ERPs, eliminating data fragmentation. Its key difference is TellMe, an agentic AI treasury analyst capable of detecting cash flow patterns, automating complex reconciliations, and suggesting strategic decisions to optimise liquidity.

With offices in London, Madrid, Berlin, and Munich, Embat is redefining the future of corporate finance.

For more information, visit https://www.embat.io/