Palm Raises €5.5 Million in Seed Round
Palm, a Sweden and the Netherlands-based fintech startup focused on optimizing cash management for enterprise treasury teams, has raised €5.5 million in seed funding.
The round was led by Speedinvest and Target Global, with participation from Upfin, Liquid2, and Greens, along with notable angel investors including Job van der Voort (Remote) and Philippe Teixeira da Mota (former Hedosophia partner).
Speedinvest is a venture capital fund with over €1 billion to invest in pre-seed, seed, and early-stage tech startups across Europe. The firm invests in fintech, industrial tech, deep tech, digital health, marketplaces, consumer, and SaaS startups.
Founded in 2015, Target Global is a venture capital investment firm based in London, United Kingdom. The firm invests in tech companies across all stages of their lifecycle.
The company will use the funding to support team expansion and develop its innovative financial tools further.
Founded in 2023 by Gurjit Pannu and Christian Sobkowski, Palm provides an AI-powered treasury management system that automates cash viewing, management, and reporting for enterprise teams. It provides a unified view of cash flows, helping treasury teams make informed decisions about moving money between bank accounts and subsidiaries.
Funding Details
Company: Palm Technologies Limited
Raised: €5.5M
Round: Seed Round
Funding Date: September 2024
Lead Investors: Speedinvest, Target Global
Additional Investors: Upfin, Liquid2, Greens, Job van der Voort, Philippe Teixeira da Mota
Company Website: https://www.usepalm.com/
Software Category: Treasury Management