Embat in a €1.5 million seed round backed by VentureFriends and 4Founders Capital.

Embat, a Madrid, Spain-based software startup building a treasury management platform for medium and big companies, announced completing a €1.5 million ($1.6 million) seed round.

The money was raised from investors including VentureFriends and 4Founders Capital, as well as angel investors Borja Prado (founder of Peninsula Capital) and Maximilian Tayenthal (founder of N26).

Embat, founded in 2021 by Antonio Berga, Carlos Garcia Serrano, Pablo Nebreda and Tomas Gil, developed a real-time treasury management platform that makes it possible to centralize and automate all collection, payment and treasury management processes for medium- and large-sized international companies. The platform connects global financial products, ERPs, and accounting systems in one place - the company says it already works wuith customers from the hotel, industrial, technological and real estate sectors.