Finmo, a treasury software platform founded in 2021, has raised US$18.5 million in an oversubscribed series A funding round.

This investment increases the company’s total funding to US$27 million.

The funding round was co-led by Quona Capital and PayPal Ventures, with participation from Citi Ventures.

The investment aims to support Finmo in expanding product development, investing in AI, and scaling global operations.

Finmo’s platform offers treasury management solutions, featuring payment processing, cash flow visibility, foreign exchange risk management, and regulatory compliance.

The company plans to use the new funds to enhance its technology and address evolving financial management needs across various industries.