Tal Kirschenbaum & Asaf Kotzer/Ledge.
Ledge exits stealth with $9m raise
The Israeli startup has developed an automated, no-code payments command centre for finance teams.
Israel-based fintech Ledge is emerging from stealth after raising $9m in seed funding for its automated payments command centre.
Led by New Enterprise Associates (NEA), Vertex Ventures, FJ Labs and existing investors Picus Capitals, Ledge plans to use the funds to enhance its no-code finance operations platform, with greater “treasury management” capabilities.
Founded by CEO Tal Kirschenbaum and CTO Asaf Kotzer, the startup also plans to use the funds to expand its team and product globally, focusing 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 the company’s solution unlocks “the immense potential of the data” that lies 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.
By fully automating the payments cycle, the company aims to give finance teams instant insights to make more informed strategic decisions.
The platform has pre-integrated banks to major banks, payment processors and billing solutions allowing it to connect directly to companies’ existing data, payments and banking infrastructures.
“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.