FISPAN Series B Funding
Big news from FISPAN!
We’ve successfully closed a $30M USD Series B financing. The round was led by Canapi, with continued participation from existing investors, including the indomitable Rhino Ventures.
Why raise now?
2025 fintech market multiples are significantly lower than just a few years ago. FISPAN is cash-flow positive and growing robustly. So the obvious question is – why would we finance this year? For us, it came down to a belief that there is enormous opportunity ahead and securing a growth-focused financial partner will provide us with the flexibility to invest to build the products and relationships that will endure for the next decade and beyond.
Choosing the right partner was key. Canapi quickly distinguished themselves with a clear understanding of FISPAN’s opportunity. Canapi’s partners founded and built the banktech companies that are legendary in our sector – companies like Promontory Financial Group, the Interfinancial Network, S1, nCino, and more. To have this kind of experience and insight inform our future is a great honor.
How will we use the funds?
FISPAN empowers middle market businesses to get more benefit from the software they already use, and the banks they already trust. Our products help cash management, accounts payable, and accounts receivable teams automate their workflows and save time and money.
Another way of saying this is: FISPAN streamlines daily operational activities.
Looking ahead, our next-generation gen AI solutions will leverage bank intelligence and bank capabilities to streamline not just actions, but also streamline and optimize decisions for our business clients. We will turn finance operations teams into working capital heroes at their companies.
We’ll be expanding the set of ERP platforms we support, add actionable insights to our Accounts Payables solution, and bring a whole-new Accounts Receivables automation product to the market.
We’ll also scale our go to market initiatives, investing in lead generation and onboarding automation for our treasury bank partners, and building our consultant partner ecosystem.
Positioning for what comes next
Every business on the planet needs to get paid by its customers, pay its vendors, and maintain its books and records in good order. Communications and data protocols have revolutionized, but business financial workflows remain remarkably similar to 50 years ago.
We believe that over the next 5 years, cash cycles will compress and AI workflows will emerge.
Our Series B funding comes at a pivotal moment, enabling us to scale our innovation and market reach significantly. We are incredibly excited to continue transforming treasury management for businesses globally, alongside our valued bank and channel partners.
Read Canapi’s blog post here: Why We’re Leading FISPAN’s Series B
Read our press release here: FISPAN Raises $30M Series B to Accelerate Embedded Banking Innovation for Mid-Market Businesses