Ledge Comes Out Of Stealth Mode And Raises $9 Million
The Israeli startup has made a payments command center for finance teams that is automated and doesn’t need any code.
After getting $9 million in seed funding for its automated payments command center, the Israel-based fintech company Ledge is coming out of stealth mode.
Ledge will utilize the funding to add “treasury management” to its no-code financial operations platform, led by New Enterprise Associates (NEA), Vertex Ventures, FJ Labs, and Picus Capitals.
The business, founded by CEO Tal Kirschenbaum and CTO Asaf Kotzer, will utilize the funding to grow its workforce and product internationally, focused on North America.
“We saw first hand in previous roles that finance teams are losing visibility over payments, losing control of their overall books, and losing crucial time for strategic initiatives, which is resulting in a hit to their bottom lines,” Kirschenbaum said.
“While many CFOs feel like they are dealing with a hair-on-fire challenge as they face an onslaught of mass digital payments being paid in and out, we believe that utilising the right technology can transform this challenge into a powerful driver of business growth.”
Kirschenbaum said that the company’s solution unlocks “the enormous potential of the data” that is behind digital payments.
“We’re putting finance teams back in control by automating time-consuming tasks while also harnessing AI and the latest tech to uncover high-value business insights currently hidden amongst vast quantities of payments data,” he added.
The firm automates the payments cycle to provide finance teams with real-time data for strategic decision-making.
The platform connects directly to enterprises’ data, payments, and banking infrastructures by pre-integrating key banks, payment processors, and billing solutions.
“By providing a comprehensive, automated solution tailored for the finance department, Ledge enables smarter finance decisions while relieving the burden from engineering teams, allowing them to focus on their core role — building and enhancing the business’s revenue-generating products,” NEA partner Jonathan Golden said.
