Interview – Embat on AI, Growth, and the Future of Treasury

By treasuryXL & Embat

19/06/2025

Embat recently secured €30 million in Series B funding, marking another step in the company’s growth. The investment will support expansion across Europe and further development of its AI-powered treasury platform. Wout van Wijlick spoke with Theo Wasserberg from Embat about the funding, the role of AI in treasury, and what finance teams can expect in the coming years.

Embat has grown rapidly over the past few years, from a small team to a platform used by more than 400 finance teams across Europe. What does this funding round represent for the company at this stage of its journey?

This €30 million Series B provides us with the financial fortress necessary to transition from a rapidly growing European challenger into the definitive global standard in AI-driven corporate treasury. Securing this level of backing in the current macroeconomic climate is a strong testament to our underlying unit economics and highly capital-efficient growth model since our inception in 2021.

Practically, this capital acts as a catalyst for our next phase of scaling, built on two primary growth pillars: aggressive global expansion – with the UK and DACH regions serving as massive engines for growth – and intensive R&D investment to double down on our leadership in agentic artificial intelligence.

You often speak about helping finance teams move away from manual work and fragmented processes. Which treasury challenges do you still see most frequently when speaking with customers today?

Historically, mid-sized enterprises have been severely underserved, forced to rely on fragmented, legacy ERP modules or highly manual spreadsheet processes. The most significant challenge facing these teams today is navigating an increasingly volatile macroeconomic environment. Persistent inflation, fluctuating interest rates, and tightening credit markets mean that capital efficiency is more critical than ever.

Because of these legacy systems, the primary risk for mid-market businesses today is poor cash visibility. Our absolute priority is putting our platform into the hands of finance directors to rescue them from these spreadsheet-heavy processes, allowing them to automate up to 80% of manual treasury tasks before market volatility impacts their bottom line.

A large part of the investment will go into AI and TellMe. Where are treasury teams already seeing practical value from these capabilities today?

AI is not a bolted-on feature for Embat; it is our core architecture. In 2022, we partnered with Google to develop one of the first generative AI use cases in European finance, and we are now transitioning entirely to agentic AI.

Our customers are seeing immense practical value because TellMe, our Agentic Treasury Analyst, goes far beyond a chatbot- it acts as an active, intelligent team member. Rather than just reading and summarising data, it executes complex, multi-step workflows. Finance teams are already leveraging it for complex, multi-currency reconciliation automation, matching disparate banking data across 15,000 global banks and feeding it autonomously into local ERPs. Moving forward, teams will see even faster deployment of highly accurate predictive cash flow modelling and proactive, strategic liquidity suggestions.

Embat is continuing its expansion across the UK and DACH regions. What differences are you seeing between treasury teams in those markets and the Spanish market where Embat started?

While the core pain points of manual reconciliation and the need for real-time liquidity visibility are universal, the regulatory landscapes and technical infrastructures vary significantly. For example, the UK market features a highly specific Open Banking infrastructure and unique macroeconomic nuances.

Because of these differences, our strategy for regional expansion relies on aggressive localisation. We do not attempt to manage regional compliance or client needs entirely from a central hub. We are heavily investing in our local offices in London, Munich, and Berlin to ensure we have treasury experts on the ground who intimately understand the specific regulatory requirements and banking nuances of the finance directors they are supporting.

You describe this round as “only the beginning.” What are the main priorities for Embat over the next few years as treasury teams continue to modernise their operations?

Our absolute top priority is capturing a dominant market share within the European mid-market. Commercially, success over the next 12 to 24 months looks like becoming the default treasury operating system for these businesses.

Technologically, success means our clients are universally leveraging our agentic AI to automate the vast majority of their routine financial operations. We will be continually expanding our integration pipelines across major ERPs and global banks so that no matter what bespoke systems a client uses, Embat can seamlessly extract, unify, and act upon their data. Ultimately, our priority is shifting finance departments away from being cost centres and turning them into strategic value drivers, allowing CFOs to focus entirely on high-level capital allocation.

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