Embat vs Panax
Embat
Medium-sized and large companies across sectors, for their finance and treasury teams
2021; Madrid, Spain (offices in London, Berlin and Munich)
Panax
Lean finance teams with complex treasury operations; CFOs, finance teams and treasury teams
2022; Tel Aviv, Israel
Embat and Panax both sell cloud treasury software that connects a company's banks and ERP to show cash positions, forecast cash, run payments and reconcile transactions, with AI agents.
Embat, founded in Madrid in 2021 with offices in London, Berlin and Munich, serves medium-sized and large companies and raised a €30m Series B in May 2026; Panax, founded in Tel Aviv in 2022, serves lean finance teams with complex treasury operations and has raised a US$10m Series A.
Embat vs Panax: side by side
“Not published” means the vendor does not state it.
| Embat | Panax | |
|---|---|---|
| What it does | Cloud treasury management platform: real-time cash positions, forecasting, bank and PSP reconciliation, and payment execution, with the TellMe AI agent | AI-native treasury and cash management platform that connects bank and ERP data and runs AI agents for forecasting, reconciliation, reporting and payments |
| Best for | Medium-sized and large companies across sectors, for their finance and treasury teams | Lean finance teams with complex treasury operations; CFOs, finance teams and treasury teams |
| Founded and HQ | 2021; Madrid, Spain (offices in London, Berlin and Munich) | 2022; Tel Aviv, Israel |
| Ownership and funding | Private, venture-backed; Series B, €30m (May 2026); investors include Cathay Innovation, Creandum, Samaipata, Venture Friends and 4Founders Capital | Private, venture-backed; Series A, US$10m from Team8 and TLV Partners |
| Customers or users | Customer stories include Wallapop, Fever, SeQura and Parlem; no customer count published | Customer stories include Optimove, GoGlobal, Rotovia and Beachwold Residential; no customer count published |
| Pricing | Quote on request; modular plans priced to the modules selected | Quote on request; three plans (Start, Grow, Pro) on a yearly contract priced by number and complexity of bank, platform and ERP connections |
| Deployment and markets | Cloud-native; offices in Spain, the UK and Germany; site in English, German and Spanish; payments in over 50 currencies | Serves lean finance teams worldwide; over 10,000 banks supported globally |
Main differences
Embat serves medium-sized and large companies across sectors, including Wallapop and Fever; Panax is built for lean finance teams with complex treasury operations, including Optimove and GoGlobal.
Embat reaches 15,000+ financial institutions through API, host-to-host, EBICS and SWIFT; Panax reaches over 10,000 banks and cash platforms through API, SWIFT and bespoke methods, and handles the setup itself.
Embat's TellMe agent works in silent, guided and ask modes; Panax adds a no-code Agent Builder to its core agents.
Embat raised a €30m Series B in May 2026; Panax has raised a US$10m Series A from Team8 and TLV Partners.
Which to choose
Choose Embat if
- You are a medium-sized or large company that wants EBICS and host-to-host bank connections and payments in 50+ currencies
Choose Panax if
- You run a lean finance team and want the vendor to set up bank connections and let you build your own AI agents
Compare further
Common questions
What is the difference between Embat and Panax?+
Embat is a cloud treasury management platform with real-time cash positions, forecasting, bank and PSP reconciliation and payment execution, plus the TellMe AI agent. Panax is an AI-native treasury and cash management platform that connects bank and ERP data and runs AI agents for forecasting, reconciliation, reporting and payments.
How much do Embat and Panax cost?+
Neither publishes list prices. Embat sells modular plans priced to the modules selected. Panax has three plans, Start, Grow and Pro, on a yearly contract priced by the number and complexity of bank, platform and ERP connections.
Where are Embat and Panax based?+
Embat was founded in Madrid in 2021 and has offices in London, Berlin and Munich. Panax was founded in Tel Aviv in 2022 and serves finance teams worldwide.
Part of Accountio’s accounting technology coverage.
