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About Trovata
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$57.6M
Headquarters
San Diego, California
Founded
2016
Overview
Trovata provides an open banking platform that focuses on improving cash management for finance teams. The platform allows companies to quickly assess their cash position, forecast cash flows accurately, and manage their finances effectively. By automating the data compilation and analysis process, Trovata reduces the time spent on cash analysis, which is often dominated by manual workflows. This service is available to a wide range of clients, including large enterprises and financial institutions, through a subscription model that generates recurring revenue. Trovata's cloud-based platform can be set up in under 60 minutes, making it easy to integrate with existing financial systems. Key features include cash forecasting, reporting, flow analysis, and an API for integration with other financial tools. The goal of Trovata is to enhance how businesses visualize and analyze their cash flows, particularly during uncertain economic times.
Simplify's Take
What believers are saying
- Integration with Mastercard enhances payment capabilities for midsize companies.
- Collaboration with Swift offers real-time liquidity monitoring for multi-banked customers.
- Partnership with Truist Bank expands market reach and strengthens cash management capabilities.
What critics are saying
- Rapid expansion may lead to operational challenges and resource strain.
- Lack of universal API standards could complicate data management for clients.
- RBC Capital Markets' new solution poses competitive pressure on Trovata.
What makes Trovata unique
- Trovata leverages open banking to automate 75% of cash analysis workflows.
- The platform offers real-time cash position and forecasting for finance teams.
- Trovata's Multibank Connector provides the largest open network of corporate banking APIs.
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Funding
Total Funding
$57.5M
Meets
Industry Average
Funded Over
5 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
Paid Parental Leave
401(k) Retirement Plan
Company Equity
Home Office Stipend
Phone/Internet Stipend
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -2%2 year growth
↓ -1%That's why Trovata Inc. has enhanced the Trovata experience with the launch of its new Home Page.
As part of the rollout, Mastercard is collaborating with issuers such as Citizens and FinTech providers such as Navan (expense management) and Trovata (cash flow management).
The middle market continues to draw the attention of payments and banking companies, with Mastercard announcing a package of digital and financial management tools aimed at that segment on Tuesday (Feb. 18).Called the Mastercard Mid-Market Accelerator, the suite of solutions is aimed at companies with annual revenues between $10 million and $100 million or about 50-250 employees. It will assist banks and FinTechs in catering to their lower middle-market clients. The offering, which will initially be available in the U.S. before scaling globally, combines Mastercard’s digital payment technology and value-added services with features from partners that offer transparency, automation and security.According to Mastercard’s Jane Prokop, EVP and global head of small and medium-sized enterprises, the Accelerator will provide a flexible mix of solutions that financial providers can customize to meet the needs of middle-market customers.Mastercard is collaborating with issuers such as Citizens and FinTech providers such as Navan (expense management) and Trovata (cash flow management). The new Mastercard business card is part of the middle-market package and offers a selection of Mastercard card benefits from existing small business and commercial card programs, as well as new rewards
Mastercard has unveiled a tool to help financial providers service their middle-market customers. The company’s Middle Market Accelerator, announced Tuesday (Feb. 18), combines Mastercard’s digital payments technology with services to provide transparency, automation and security, Mastercard said in a news release. “There is an untapped opportunity to support the growth and digitization of middle-market companies, specifically the lower-middle market, which is broadly defined as companies with annual revenues between $10 million and $100 million, or with roughly 50-250 employees,” the release said
Trovata is further expanding its payments capabilities by integrating with Mastercard's virtual card platform, which will make supplier payments more efficient and secure for midsize companies.
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About Trovata
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$57.6M
Headquarters
San Diego, California
Founded
2016
Trovata is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today