- FinLync, a fintech company transforming corporate finance and treasury offices through its renowned products, announced recently that it has closed on a $16 million equity funding round. These are the details.
FinLync — a privately held global fintech company transforming corporate finance and treasury offices through its renowned products — announced recently that it has closed on a $16 million equity funding round. Point72 Ventures led the funding round and included investments from Nyca Partners, former CFO of Palantir and Founding Partner of Friends & Family Capital Colin Anderson, and Plaid Founder William Hockey.
FinLync is essentially bringing speed, simplicity and greater transparency and control to finance and treasury professionals globally. And through its world-class products, they provide them the infrastructure to unlock more value from their day-to-day operations.
This latest funding round will support the company’s continued growth, including investment in its technology and expanding the firm’s global reach, and executive leadership team.
By utilizing bank APIs and embedding the technology within the client’s ERP, FinLync enables corporate finance and treasury departments to have greater control and visibility over their data than legacy treasury management systems provide while also benefiting from financial institution-grade security. Equipped with FinLync’s applications, treasurers, and finance professionals are now able to experience real-time payment processing, machine learning-assisted forecasting, and reconciliation, all on a user-intuitive platform.
Leading companies such as Citrix chose FinLync’s technology to integrate their bank and ERP data in real-time, resulting in richer insights and more actionable data to their corporate treasury functions. And FinLync’s global bank partners include J.P. Morgan and Standard Chartered, among other leading banks.
Even though the wave of digital transformation has modernized many areas of financial services and accelerated the use of APIs, corporate treasuries have been largely left behind — still relying on static, disparate, and legacy technology. And in response, FinLync has created a modern solution that delivers the critical information treasury departments need to maximize cash and make better and faster decisions.
By bringing the ease and sleeker design of consumer banking technology to corporate treasury, FinLync offers today’s treasurers with real-time data in a simple and customizable dashboard. And through FinLync, users have a single and integrated view into all of the information they need with less fraud risk.
KEY QUOTES:
“The corporate treasury function has evolved into an increasingly strategic role. FinLync is accelerating that change with its unique solution for CFOs and treasurers around the world, and think they have an opportunity to transform this area of financial services. We are confident in the experience and industry knowledge FinLync’s executive team brings to the table and believe in their vision. We believe FinLync is uniquely positioned to make a significant impact on this area of open banking and corporate treasury and we are encouraged by the clients and partners it has secured. We look forward to supporting the business as it continues to expand globally.”
— Tripp Shriner, Partner at Point72 Ventures
“FinLync’s innovative model addresses the pain points treasurers have to deal with on a daily basis. Phillip and Peter have built a strong team with backgrounds in corporate treasury, payments and technology to create and deliver an elegant solution that will save companies money.”
— Hans Morris, Managing Partner at Nyca Partners
“We are at a critical point of growth for our firm. We’ve secured an extensive list of global bank partners and this investment will help us continue our goal of bringing open banking into corporate treasury. With the right tools, treasurers and their teams are change leaders within their organizations. These individuals need access to real-time treasury data to manage their complex finance needs. With FinLync, corporate finance departments can become forward-thinkers and optimize cash, make better and faster decisions, all while saving time and resources. We believe that our solution is going to transform the treasury function of every global company and we are excited to have secured this growth investment to support our vision.”
— Phillip Klein, co-founder and CEO of FinLync
