Finmo secures $18.5 million in Series A funding led by Quona Capital and PayPal Venture

"Finmo raises $18.5M in Series A funding to expand its Treasury Operating System and enhance AI-driven capabilities."

Singapore-based Treasury Operating System (TOS) startup Finmo has raised $18.5 million in a Series A funding round aimed at accelerating its expansion and product development. This brings the company's total funding to $27 million.

The funding round was co-led by Quona Capital and PayPal Ventures, with additional backing from Citi Ventures.

Founded in 2021, Finmo offers solutions designed to help enterprises optimize liquidity and manage cross-border transactions. Key features of its platform include real-time payments, FX risk management, enhanced cash flow visibility, and automated compliance.

Currently, Finmo holds licenses in Singapore, Australia, and New Zealand, and is registered as a Money Service Business (MSB) in the US.

CEO and co-founder David Hanna stated that the new investment will help scale Finmo’s platform, improve its technology, and expand into new markets. The company is focusing on enhancing its AI-driven capabilities and is actively hiring for key roles in India and Singapore.

Finmo’s successful Series A round adds to the growing momentum of Singapore’s fintech sector, reinforcing its position as a hub for innovation and investment in the financial technology space.