FinLync Secures $16M to Support Global Expansion
Businesswire | May 10, 2021
FinLync, a privately held, global fintech company transforming corporate finance and treasury offices through its world-class products, today announced that it has closed on a $16M equity funding round. Point72 Ventures led the financing and included investments from Nyca Partners, former CFO of Palantir and Founding Partner of Friends & Family Capital Colin Anderson, and Plaid Founder William Hockey.
FinLync brings speed, simplicity and greater transparency and control to finance and treasury professionals globally. Through its world-class products, they provide them the infrastructure to unlock more value from their day-to-day operations. 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.
Leading companies, including Citrix, have chosen FinLync’s technology to integrate their bank and ERP data in real time, resulting in richer insights and more actionable data to their corporate treasury functions. FinLync’s global bank partners include J.P. Morgan and Standard Chartered, among other leading banks.
“The corporate treasury function has evolved into an increasingly strategic role. FinLync is accelerating that change with its unique solution for CFOs and treasurers around the world, and think they have an opportunity to transform this area of financial services,” said Tripp Shriner, Partner at Point72 Ventures. “We are confident in the experience and industry knowledge FinLync’s executive team brings to the table and believe in their vision. We believe FinLync is uniquely positioned to make a significant impact on this area of open banking and corporate treasury and we are encouraged by the clients and partners it has secured. We look forward to supporting the business as it continues to expand globally.”
While the wave of digital transformation has modernized many areas of financial services and accelerated the use of APIs, corporate treasuries have been largely left behind, still relying on static, disparate and legacy technology. In response, FinLync has created a modern solution that delivers the critical information treasury departments need to maximize cash and make better, faster decisions. Bringing the ease and sleek design of consumer banking technology to corporate treasury, FinLync provides today’s treasurers with real-time data in a simple, customizable dashboard. 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.
“FinLync’s innovative model addresses the pain points treasurers have to deal with on a daily basis,” said Hans Morris, Managing Partner at Nyca Partners. “Phillip and Peter have built a strong team with backgrounds in corporate treasury, payments and technology to create and deliver an elegant solution that will save companies money.”
“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 Phillip Klein, co-founder and CEO of FinLync. “With the right tools, treasurers and their teams are change leaders within their organizations. These individuals need access to real-time treasury data to manage their complex finance needs. With FinLync, corporate finance departments can become forward-thinkers and optimize cash, make better and faster decisions, all while saving time and resources. We believe that our solution is going to transform the treasury function of every global company and we are excited to have secured this growth investment to support our vision.”
FinLync is a privately held, global fintech company transforming the insights and functionality of corporate finance and treasury offices through its world-class products. FinLync’s ERP native apps and API connectivity empowers treasurers to optimize cash, make better, faster decisions, save time and reduce the resources needed to manage complex finance needs. FinLync’s largest clients include Fortune 500 and Fortune 2000 companies. The firm has employees from 18 different countries and offices in Singapore, Los Angeles, New York, and Paris.
Point72 Ventures is a global venture capital strategy led by a diverse set of domain experts with the capital and mandate to lead rounds through all stages of a company's growth, from idea to IPO. The team invests in founders with bold ideas who use the latest technologies to drive transformational change across industries. Point72 Ventures offers entrepreneurs access to expertise and insights, executive and technical talent, and hands-on support. With offices in the U.S. and Europe, Point72 Ventures is an affiliate of Point72, the global asset manager founded by Steven A. Cohen.