Palm, a Swedish and Dutch financial technology company created to streamline cash management for enterprise treasury teams, raised $6.1M in funding.
The round was led by Speedinvest and Target Global, with participation from Upfin, Liquid2, and Greens. Angel investors included Job van der Voort and Philippe Teixeira da Mota.
The company intends to use the funds to expand its team and is already hiring across product, engineering, and go-to-market functions.
Co-founded by Co-CEOs Gurjit Pannu and Christian Sobkowski, Palm is a financial technology company created to streamline cash management for enterprise treasury teams. It provides an AI-powered platform that offers three key features:
- Cash Forecasting, which provides account-level forecasts for each bank account, creating trust with automated accuracy scores.
- Cash Positioning, which drives operational and financial efficiency by replacing daily reviews of multiple Excel sheets with smart, policy-driven funding recommendations.
- Reporting that transforms tedious reporting cycles into a dynamic process, empowering strategic decision-making.
The platform has the capability to be a standalone solution, or supplement existing TMS tools that fall short on forecasting capabilities.
Palm’s closed beta is also now opening to new customers. The company’s early adopters include public listed companies in both the US and Europe with average turnover exceeding $1 billion.
FinSMEs
04/09/2024