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Thursday, February 22, 2024

Uría helps Embat secure €1.5m on its first funding round

Uría Menéndez has advised Spanish fintech Embat on its first financing round led by VentureFriends and SeedRocket 4Founders Capital, securing €1.5 million

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Embat, a Spanish startup, has closed a €1.5m funding round led by VentureFriends
and SeedRocket 4Founders Capital, and in which business angels such as Borja Prado (founder of Peninsula Capital) and Maximilian Tayenthal (founder of N26), and other investors (investment banking executives and founders of startups such as Belvo, ThePowerMBA or Vivla) also participated.

Embat, based in Madrid, and founded by Antonio Berga and Carlos Serrano, two ex-JP Morgan with more than 10 years of experience in investment banking, is a company dedicated to the development of a treasury management and financial planning platform, helping companies keep their cash flows, liquidity, debt positions and forecasts monitored and automated in real-time. The company will use the funding received to boost its growth.

“We have incorporated strategic partners that complement us to continue developing new solutions at Embat, including the automation of payment processes and the structuring of cash pooling solutions to optimise liquidity. We want liquidity to become a lever of growth for companies and a cornerstone to boost their expansion plans,” said Antonio Berga, co-founder of Embat.

Uría Menéndez advised Embat with a team comprising Tax counsel Violeta Pina Montaner, and a Corporate/Capital Markets team formed by senior associate Álvaro López Hernández, lawyer Ana García Fernández and trainee Rocío Mackinlay Bustamante.

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