Fintech startup Statement, which has developed a multi-banking, global liquidity management platform, has raised $12 million in a Seed round. The round was led by Glilot Capital Partners, with participation from Citi, Mensch Capital Partners, Titan Capital and Operator Partners.
Statement was founded in 2022 by Idan Vlodinger (CEO) and Shahar Lahav (CTO) and is based in Tel Aviv with offices in New York. Prior to founding Statement, Idan was VP of Product & Innovation at Mastercard, led product development at Amazon and was a Consultant at EY. Idan served as a Special Operations combat officer (rank Major) in the IDF’s Special Operations unit for over a decade. Shahar Lahav (CTO) served as a cyber security researcher, reverse engineer and team lead for 6 years in the IDF’s Center of Encryption and Information Security. Prior to that Shahar sold his first startup, an indoor location solution based on BLE chip triangulation at the age of 19.
“With mixed feelings we are announcing the news of our recent $12m fundraising and sharing our story with the world,” Statement wrote on its LinkedIn page. “We heard this week that ‘In unstable times you want to invest in the most resilient people’, and we hope that sharing this news instills optimism amongst our peers in the Israeli tech community and our people. At Statement, the core of our product development, the majority of our employees, and our IP all reside in Israel. We aren’t going anywhere and we plan on utilizing this investment to double down on our presence in Israel.”
Statement’s platform provides companies with real-time visibility into financial data and automates manual tasks including reconciliation and balance reporting, and forecasts their cash flow across the most comprehensive set of financial data.
“The office of the CFO has remained largely unchanged for decades,” said Idan Vlodinger, co-founder and CEO of Statement. “In today’s rapidly evolving financial environment, treasury and finance teams need modern tools that give them a complete picture of their organization’s financial health. Simply put, we provide finance teams with access to real-time data and simplify the process required to make cash flow decisions. We are helping companies cope with volatility, inflation, FX risks, and enabling them to generate meaningful yields.”
“Each bank and financial service provider has a unique system for accessing financial data, and these systems don’t talk with each other,” said Shahar Lahav, co-founder and CTO of Statement. “Connecting these disparate platforms is a hard technological problem, which has stood in the way of efforts to modernize finance operations. At the core of our solution is a robust, scalable, and secure infrastructure that connects and aggregates all the company’s financial data in real time. This infrastructure lays the foundation for real time reconciliation, rolling cash flow forecasting, and secure AI database queries. The result is a dramatic improvement in finance teams’ workflows and a fundamental shift in how organizations manage their finances.”
