Startup
Panax
Agentic treasury and cash management for lean finance teams with complex treasury operations: cash visibility across banks and entities, forecasting and liquidity optimisation, founded by two former private equity finance professionals.
| Founded | 2022, Tel Aviv; New York office since 2024 |
|---|---|
| Founders | Noam Mills (CEO, former Olympic fencer and FIMI), Niv Yaar (CBO, formerly FIMI), Sefi Itzkovich (CTO) |
| Stage | Series A |
| Total funding | $15.5m |
| Last round | Series A, $10m, May 2024, led by Team8 with TLV Partners |
| Earlier rounds | Seed $5.5m led by TLV Partners |
| What it does | Connects bank accounts, ERPs and payment systems to give real-time cash positions, forecasts and automated cash operations, with AI agents for recurring treasury tasks |
| Traction | Doubled customers in the first quarter of 2024; about 32 staff across Israel and New York |
| Pricing | Three plans (Start, Grow and Pro), each on quote; yearly contract priced by the number and complexity of bank, platform and ERP connections |
| Markets | US, Israel |
| Peers | Embat, Trovata, Atlar, Kyriba, Agicap |
Funding
- Announced rounds
- US$10m
- Round
- Series A, US$10m, May 2024, led by Team8
Why it matters
Panax raised $10 million from Team8 to bring treasury software to lean finance teams with complex treasury operations, a market Kyriba and the enterprise systems ignore. It is one of several Israeli-founded finance operations companies now selling mainly in the US.
Part of Accountio’s accounting technology coverage.
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