The funding round was led by prominent venture capital firms and strategic investors who recognize Statement’s potential to disrupt the financial industry. The company’s innovative approach to multi-banking offers a comprehensive solution that enables businesses to seamlessly manage their financial activities across multiple banks, currencies, and jurisdictions.
The platform provides a unified dashboard that aggregates and displays financial data from various banks and financial institutions, making it easy for businesses to monitor their account balances, cash flows, and transactions in real-time. This level of visibility empowers financial teams to make informed decisions and efficiently manage their liquidity.
Statement’s features include automated funds transfer between accounts, automated reconciliation, and advanced analytics to identify opportunities for cash optimization. With their system, businesses can set up and manage virtual bank accounts in multiple currencies, simplifying cross-border transactions and currency management.
One of the standout features of Statement’s platform is its ability to provide users with a complete view of their global liquidity position. This empowers finance professionals to make decisions about when and where to move funds, optimize working capital, and reduce the cost of borrowing.
The $12 million in funding will be used to accelerate Statement’s growth and expand its reach in the global market. The company plans to invest in research and development to enhance its platform’s capabilities and user experience. Furthermore, the funds will be channeled into marketing and sales efforts to reach more businesses looking to streamline their multi-banking and liquidity management processes.
The fintech startup also plans to establish strategic partnerships with banks and financial institutions to broaden its offering. Such partnerships will enable Statement to leverage existing financial infrastructure and provide even more value to its users.