ThePanax Secures $10M in Series A Funding to Disrupt Cash and Treasury Management
ThePanax, a fintech start-up based in Tel Aviv is emerging as a frontrunner in the cash and treasury management space. Founded in 2020 by former banking executives and tech entrepreneurs, ThePanax aims to transform the way organizations handle their cash flows and treasury operations.
“In our previous roles, we couldn’t ignore the struggle of finance teams in companies with complex treasury operations,” said Noam Mills, co-founder of ThePanax.
‘’The more a company grows, the more complex it gets, working across many entities and regions and juggling many bank accounts and currencies. That always results in poor cash flow visibility, outdated or faulty data and a general lack of control. You are constantly bouncing between cash flow issues and suboptimal liquidity allocation. That’s why we created Panax.”
In a significant milestone, ThePanax recently announced the successful completion of a Series A funding round, raising $10 million. Leading the round was Team8 with participation from TLV Partners.
The capital will be used to accelerate Panax’s growth trajectory, expand its product offerings, and scale its go-to-market
Addressing Challenges in Cash and Treasury Management
Traditional cash management processes often involve cumbersome manual processes, fragmented data, and systems that fail to provide real-time insights. These inefficiencies in turn lead to cash flow discrepancies, uninvested cash pockets, and suboptimal decision-making.
ThePanax aims to address these issues head-on via its platform. By integrating advanced analytics and AI ThePanax provides a solution that streamlines treasury operations and enhances cash management. Key features of ThePanax’s platform include:
- Real-Time Cash Positioning
- Cash Reporting
- Cash Forecasting
- Smart Categorization
These features help to not only optimize financial operations but also enable organizations to make better informed, and more strategic decisions that can drive growth and profitability.
Future Plans
With the fresh capital from its Series A round, ThePanax is poised to scale its operations significantly. The company plans to invest in research and development to build a more robust AI and data team, open a NY office, and scale its go-to-market efforts. In addition, ThePanax is exploring strategic partnerships with banks, financial institutions, and other technology providers
