FINLYNC CLOSES US$16 MILLION EQUITY FUNDING, SUPPORTING GLOBAL EXPANSION

KUALA LUMPUR, May 11 (Bernama) -- FinLync, a privately-held, global fintech company transforming corporate finance and treasury offices has closed on a US$16 million equity funding round. (US$1 = RM4.11)

Point72 Ventures led the financing, including investments from Nyca Partners; former CFO of Palantir and Founding Partner of Friends & Family, Capital Colin Anderson; and, Plaid Founder, William Hockey.

Based on a statement, this latest funding will support the company’s continued growth, including investment in its technology and expanding the firm’s global reach and executive leadership team.

By leveraging bank APIs and embedding the technology within the client’s ERP, FinLync enables corporate finance and treasury departments to have greater control and visibility over their data than legacy treasury management systems provide, while benefiting from financial institution-grade security.

Equipped with FinLync’s applications, treasurers and finance professionals are now able to experience real-time payment processing, machine learning-assisted forecasting and reconciliation, all on a user intuitive platform.

FinLync’s global bank partners include J.P. Morgan and Standard Chartered, among other leading banks.

With FinLync, users have a single, integrated view into all of the information they need—with a reduced risk of breaches and fraud. This innovation makes the ERP the single source of truth for an entire enterprise.

“We are at a critical point of growth for our firm. We’ve secured an extensive list of global bank partners and this investment will help us continue our goal of bringing open banking into corporate treasury,” said FinLync co-founder and chief executive officer, Phillip Klein.

-- BERNAMA