Palm, a fintech company focused on streamlining cash management for enterprise treasury teams, has raised $6.1 million in seed funding. The funding round was led by Speedinvest and Target Global, with participation from Upfin, Liquid2, and Greens.
The company will use the funding to expand its team, establish more partnerships with large consultancies, and continue its growth across Europe, the UK, and the US.
Gurjit Pannu, Co-Founder and Co-CEO of Palm said: “Imagine your electricity getting cut because of insufficient funds due to not moving money to your current account in time. Now imagine that across hundreds of accounts and dozens of countries. That’s the daily challenge for treasury teams — juggling multiple systems to track and predict cash flow across global operations.
Having implemented incumbent solutions three times to solve this without seeing meaningful change, we knew it was time to build something better.
Our platform not only consolidates data but generates guidance and recommendations that improve cash efficiency. This allows treasurers to spend less time generating reports and updating spreadsheets, and more time managing liquidity and strategic initiatives.”
Olga Shikhantsova, Partner at Speedinvest shared: “Palm represents the next generation of financial tools that are disrupting the enterprise CFO stack. As legacy software reaches end-of-life, CFOs are seeking AI-enabled solutions that can keep pace with their evolving needs. Palm’s deep understanding of treasury challenges, particularly from first hand experience by Gurjit across a wide breadth of organizations, combined with their innovative approach, positions them perfectly to lead this transformation.”
(Image Credit: Palm)
About Palm:
Palm is an AI-powered treasury management system designed to automate how enterprise teams view, manage, and report cash. With API connectivity and advanced machine learning models, Palm is built from the ground up by former Treasurers to meet and exceed the requirements of modern treasury teams while preparing for future needs. It connects data sources and delivers real-time forecasts, enabling teams to make informed funding recommendations and share strategic insights effectively.
(Source: Palm, Tech.eu)
