Israeli fintech startup, Statement, announced the closing of their $12 million Seed funding round led by Glilot Capital Partners. The round also saw the participation from Citi, Mensch Capital Partners, Titan Capital, and Operator Partners.
Statement’s platform offers the first AI-enabled cash-intelligence platform specifically tailored to empower enterprise finance and treasury departments. By harnessing AI algorithms and a novel data infrastructure, Statement enables these departments to proficiently manage cash and liquidity. Furthermore, it introduced a cash-flow forecasting module that updates in real-time.
Their platform is already being utilized by dozens of companies worldwide. It provides them with global, multi-bank and ERP connectivity, real-time cash-flow analytics, and automated A/R reconciliation, all delivered through a user-friendly interface. Statement’s proprietary enrichment engine automates transaction categorization, cutting down significantly on the human effort required to consolidate a robust balance sheet.
Conventional treasury solutions, although offering basic cash management functionalities, often fall short in today’s fast-paced financial world. The increasing demand for instantaneous and intelligent financial data is evident, as shown in this year’s Strategic Treasurer’s “Treasury Perspectives Survey Report”. According to the report, 83% of treasurers are either already utilizing or planning to use AI and predictive analytics within the next half-decade.
Statement’s platform boasts compatibility with over 3,000 banks and seamlessly integrates with prominent ERP and accounting software. They also maintain certifications including SOC, SOC2, ISO27001, and GDPR.
Statement was founded in 2022 by Idan Vlodinger (CEO) and Shahar Lahav (CTO), headquartered in Tel Aviv with a presence in New York. Vlodinger held significant roles at Mastercard and Amazon and served in the IDF’s Special Operations unit. Lahav is a cybersecurity expert and serial entrepreneur.
Statement’s seed round marks Glilot Capital Partners‘ fifth investment of 2023, having funded Sweet Security and Gomboc in August, among others.