Fintech Startup Statement Raises $12m in Seed Round

Published 6 months ago

Fintech startup, Statement, recently raised $12 million in a seed round. The funding round was led by Glilot Capital Partners and included participation from Citi, Mensch Capital Partners, Titan Capital, and Operator Partners. Founded in 2022 by Idan Vlodinger (CEO) and Shahar Lahav (CTO), Statement has developed a multi-banking, global liquidity management platform.

Founders’ Backgrounds

Vlodinger, prior to founding Statement, was VP of Product & Innovation at Mastercard, led product development at Amazon, and was a Consultant at EY. Additionally, he served as a Special Operations combat officer in the IDF’s Special Operations unit for over a decade. Lahav, the startup’s CTO, served as a cybersecurity researcher and team lead in the IDF’s Center of Encryption and Information Security for six years. At the age of 19, Lahav sold his first startup, which provided an indoor location solution based on BLE chip triangulation.

Statement’s Plans and Platform

Statement announced its recent fundraising news on its LinkedIn page, expressing hope that the news would instill optimism among its peers in the Israeli tech community. The company, which is based in Tel Aviv with offices in New York, plans to utilize the investment to solidify its presence in Israel.

The platform developed by Statement provides real-time visibility into financial data for companies. It automates manual tasks like reconciliation and balance reporting and forecasts cash flow across a comprehensive set of financial data.

Modernizing Finance Operations

According to Vlodinger, the CEO of Statement, treasury and finance teams need modern tools to keep up with the rapidly evolving financial environment. He claims that Statement provides these teams with real-time data and simplifies the process required to make cash flow decisions.

Lahav, the CTO of Statement, pointed out that each bank and financial service provider has a unique system for accessing financial data, which often don’t interact with each other. Statement’s solution is a robust, scalable, and secure infrastructure that connects and aggregates all a company’s financial data in real time. The outcome is a significant improvement in finance teams’ workflows and a fundamental shift in how organizations manage their finances.