Trovata enters Europe with USD 27 mln Series B

To support its continued growth, Trovata also announced it has closed USD 27 million in Series B funding, led by Fin Capital, with significant participation from existing investors, JP Morgan Chase Strategic Investments, Wells Fargo Strategic Capital, Capital One Ventures, and Pivot Investment Partners, along with new investor NAB Ventures.

Since its market launch nearly three years ago, Trovata has become a fast-growing treasury platform in the US, with hundreds of mid-market and enterprise customers managing over USD 100 billion in cash and over 50 million bank transactions. The platform delivers a modern user experience for finance and treasury professionals, as well as developers building custom applications. The Trovata experience is fully integrated with corporate banking APIs for multi-bank data aggregation, cash visibility, analysis, forecasting, and payments with no IT required.

Open Banking enables banks to transmit data to their customers directly and securely using APIs. As a result, it is quickly becoming the new transport method enabling bank data – balances, transactions, and payments – to be transmitted dynamically, with low latency and richer metadata. Not only does this improve security and performance, but it also unlocks automation opportunities and an entirely new intuitive, digital experience for users and developers.