Ledge, an automated, no-code finance operations platform, announced the launch of its new multi-bank management solution that’s designed “to help finance teams easily and nimbly manage cash balances across multiple bank accounts in real-time as executives put a renewed focus on treasury management.”. Since the closure of several US banks and the ensuing global banking instability, treasury management “has transformed in just a matter of days from a best practice for larger and late-stage companies to a must-have necessity for companies of all sizes.”. Venture capital firms across the world “have urged their portfolio companies to implement treasury management processes and diversify their bank accounts immediately in order to minimize exposure to risk.”

The rapid adoption of digital payments has become a great challenge for finance teams. According to one report, teams spend as much as 40% of their time processing transactions. To blame is disparate, unstructured data, they say. In a separate survey, 48% of teams peg fragmented data as the largest impediment to closing their books.Tal Kirschenbaum is well acquainted with the struggle. He worked a Melio, a business-to-business (B2B) payments platform for small companies, where he saw finance teams become the victims of their own success.“Some companies have payments expertise and are able to invest R&D resources into building great internal solutions to handle the problem, but that’s not a feasible option for most businesses,” Kirschenbaum told TechCrunch in an email interview. “Finance teams are forced to work as ‘human glue’ to hold together a complex payments stack of payment processors, banks, enterprise resource management platforms, databases and more.”That led Kirschenbaum to co-found a fintech startup, Ledge, with Asaf Kotzer and Ariel Weiss in 2022

Ledge, a Tel Aviv, Israel-based company providing a no-code payments command center built to empower CFOs and their finance teams, raised $9M in Seed funding.The round was eld by New Enterprise Associates (NEA), as well as Vertex Ventures, FJ Labs and existing investors Picus Capital. The company intends to use the funds to enhance its automated finance operations platform and introduce treasury management capabilities to equip finance teams with the instant insights they need to make strategic decisions. The round will also be used to expand its team and product globally with a focus on North America.Led by Tal Kirschenbaum, Asaf Kotzer and Ariel Weiss, Ledge provides an Automated Finance Operations platform giving companies access to payments visibility, automation of multi-way reconciliation, real-time ledgering. It also provides key treasury insights while reducing the risk of losses. With pre-integrated access to all major banks, payment processors, ERPs, and billing solutions, Ledge’s platform connects directly to companies’ existing data, payments, and banking infrastructures enabling a company to get up and running within minutes. The solution aggregates balances across providers to present a real-time snapshot of companies’ cash positions and provides treasury insights and recommendations that enable teams to make smarter finance decisions. Ledge has been working with companies across multiple different segments including marketplaces, platforms, and SaaS companies.FinSMEs16/02/2023