Fintech startup Statement has recently secured $12 million in a Seed funding round, which will be directed towards the growth of its multinational banking and global liquidity management platform. The round, led by Glilot Capital Partners, featured participation from major investors including Citi, Mensch Capital Partners, Titan Capital, and Operator Partners. Founded by CEO Idan Vlodinger and CTO Shahar Lahav in 2022, Statement currently operates from Tel Aviv and New York. The company’s platform is designed to simplify global banking transactions for businesses, offering clients a smooth experience while operating across multiple countries and currencies. The newly acquired funding is set to drive Statement’s expansion plans, including recruiting additional team members, improving its technology stack, and broadening its global market presence.
Statement’s Commitment to the Israeli Tech Community
The startup shared news of its achievement on LinkedIn, underscoring its commitment to the Israeli tech community and its plans to strengthen its presence in the Israeli market using the investment. Following the announcement, Statement received a largely positive response, reflecting the potential and value of Israeli innovation within the global tech industry. Consequently, this investment has not only highlighted Statement’s dedication to building up the local technology ecosystem but also opened the door to new possibilities for growth and collaboration within the industry.
Improved Financial Efficiency with Statement’s Platform
With its platform, Statement is able to provide businesses with real-time access to their financial information by automating various manual tasks including reconciliation, balance reporting, and cash flow prediction. This not only conserves valuable resources and time but also bolsters overall accuracy and efficiency. Through simplifying these processes, businesses that use Statement’s platform can make better-informed financial decisions and optimize their operations.
The Need for Modern Tools in a Rapidly Evolving Financial Landscape
Vlodinger emphasizes the growing demand for tools that offer a comprehensive understanding of a company’s financial health given the fast-paced nature of today’s financial environment. Modern tools that provide businesses with real-time data, actionable insights, and seamless integration with existing systems are critical to ensuring informed decision-making and agility. By utilizing such powerful resources, companies can gain a better understanding of their financial position and make strategic moves to adapt and prosper in a constantly changing economic environment.
Statement aims to assist businesses in tackling issues associated with volatility, inflation, and foreign currency risks while enabling them to reap substantial returns. This approach allows companies to become proficient at managing complex financial situations, ultimately resulting in increased growth and stability within their overall operations. Additionally, it fosters the development of strategic skills, which in turn empowers organizations to capitalize on opportunities and optimize the potential for increased profits.
Overcoming Integration Challenges in Modern Financial Operations
According to Lahav, a significant obstacle in modernizing financial operations is integrating the diverse systems used by various banks and financial service providers. This lack of interoperability may lead to inefficiencies, increased costs, and limitations on innovation within the financial sector. To address these challenges, institutions must collaborate and adopt standardized protocols, which will be crucial for the seamless integration of different financial systems.
Statement’s Scalable, Secure, and Comprehensive Infrastructure
Statement offers a robust, scalable, and secure infrastructure that consolidates and collects a company’s financial information in real time. This innovative solution allows for seamless integration with existing systems, enabling businesses to access, analyze, and manage financial data more efficiently than ever before. By implementing Statement’s solution, companies can effectively improve decision-making processes, optimize resource allocation, and ultimately drive greater profitability and long-term success.
Enabling a Paradigm Shift in Financial Management through Enhanced Workflows
By adopting Statement’s platform, companies experience a considerable improvement in their financial workflows and a complete shift in the management of their finances. Embracing this new approach allows businesses to streamline financial processes, reduce human errors, and make data-driven decisions more efficiently. Moreover, this transformation leads to increased collaboration among team members, improved transparency, and stronger financial planning and analysis capabilities.
Frequently Asked Questions
What is Statement and its purpose?
Statement is a fintech startup that has developed a multinational banking and global liquidity management platform. The company’s main goal is to simplify global banking transactions for businesses, making it easier for them to operate across multiple countries and currencies.
How much funding did Statement secure in its Seed funding round?
Statement secured $12 million in its Seed funding round, which will be directed towards the growth and development of its platform and global market presence.
How does Statement’s platform help businesses?
Statement’s platform helps businesses with real-time access to their financial information by automating manual tasks such as reconciliation, balance reporting, and cash flow prediction. This automation saves time and resources, improves accuracy and efficiency, and enables better-informed financial decision-making.
What challenges does Statement aim to address for businesses?
Statement aims to assist businesses in tackling issues associated with volatility, inflation, and foreign currency risks, as well as helping them overcome integration challenges in modern financial operations by providing a scalable, secure, and comprehensive infrastructure.
What are the key features of Statement’s infrastructure?
Statement offers a robust, scalable, and secure infrastructure that consolidates and collects a company’s financial information in real time, allowing for seamless integration with existing systems. By implementing Statement’s solution, businesses can improve decision-making processes, optimize resource allocation, and drive greater profitability and long-term success.
How does using Statement’s platform create a paradigm shift in financial management?
By adopting Statement’s platform, companies can experience significant improvements in their financial workflows and a complete shift in the management of their finances. This new approach allows businesses to streamline financial processes, reduce human errors, make data-driven decisions more efficiently, and fosters increased collaboration, transparency, and stronger financial planning and analysis capabilities.