Ledge, a Tel Aviv, Israel-based fully automated, no-code payments command center built to empower CFOs and their finance teams, raised $9 million in Seed funding.
The round was led by New Enterprise Associates (NEA), with participation from Vertex Ventures, FJ Labs, and Picus Capital.
With this investment, Ledge will enhance its automated finance operations platform and introduce greater 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.
By centralizing all payment data, Ledge improves visibility, dramatically lowers the risk of losses, and reduces operational costs, all without requiring engineering support.
With pre-integrated access to all major banks, payment processors, ERPs, and billing solutions, Ledge’s platform seamlessly connects directly to companies’ existing data, payments, and banking infrastructures, enabling a company to get up and running within minutes.
“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.” says Tal Kirschenbaum, Ledge’s Co-founder, and CEO. “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 utilizing the right technology can transform this challenge into a powerful driver of business growth. Our solution unlocks the immense potential of the data 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.”
Company: Ledge, Inc.
Raised: $9.0M
Round: Seed Round
Funding Month: February 2023
Lead Investors: New Enterprise Associates
Additional Investors: Vertex Ventures, FJ Labs, and Picus Capital
Company Website: https://www.ledge.co/
Software Category: Financial Software
About the Company: Ledge is a command center for payments built for finance teams operating at scale. Ledge empowers finance teams with tools to centralize their payments data, get a real-time payments snapshot, automate multi-way reconciliation, identify problem transactions, accelerate their investigations, and dramatically lower the risk of losses, all without any engineering support. The company is on a mission to solve complex payments for finance teams operating at scale. Ledge has been working with companies across multiple different segments including marketplaces, platforms, and SaaS companies. Ledge’s strategic investors include founders from fintech giants Payoneer, Fundbox, Papaya Global, Melio, and Mesh Payments.
Source: https://ffnews.com/newsarticle/ledge-emerges-from-stealth-with-9m-in-seed-funding-to-provide-no-code-finance-operations-tools/