Snab is the Spanish payments platform that allows to make payments and transfers between companies in one click and manage treasury from a single place. The PayTech platform has bagged €1.1m in this funding round.
The transaction was finalised with the accelerator YCombinator, where firms such as Coinbase, Dropbox and Airbnb were born.
The round also saw participation from 4Founders Capital, Glenfarne Group and business angels such as Kantox’s founder and the Spanish startup Belvo’s founders.
Snab is a B2B payments and cash management platform in Europe that enables one-click transfers and payments without the need for manual data entry.
The firm simplifies, automates and digitizes treasury management for small and medium-sized businesses through a unique cloud-based solution that enables companies to automate and digitize the entire end-to-end payment flow.
Snab CEO Gorka Aguirre said, “Snab was created to help companies to digitize, eliminate manual processes and save time for the employees of these companies in the area of finance and treasury. The support of national and international investors of this huge size reinforces our vision and our conviction that Snab is the solution to these difficulties faced by thousands of companies in our country and globally.”
RocaJunyent advised Sanb with a team led by partners José Luis Pita da Veiga and Xavier Foz and associates Marc Rovira and Marina Zarza.