Palm's platform is designed to streamline the treasury operations of global businesses, providing a unified view of cash flows across numerous bank accounts and subsidiaries. By offering data-driven insights and guidance on daily money movements, the platform helps enterprises optimise liquidity, cut operating cash balances by over 30%, and enhance forecast accuracy compared to traditional manual processes.

Founded by industry veterans with experience at companies like Uber, PayPal, and Remote, Palm’s leadership team is on a mission to transform enterprise treasury management. Co-CEO Gurjit Pannu, who previously managed billion-dollar treasuries and moved $3 billion monthly at Uber, saw firsthand the inefficiencies in existing systems. He explained, "Imagine your electricity getting cut because of insufficient funds – now imagine that across hundreds of accounts globally. That’s the daily challenge for treasury teams. After deploying legacy solutions multiple times with little impact, we knew it was time to build something better."

Co-CEO Christian Sobkowski brings a wealth of experience in launching financial products, having developed Juni's credit card program and expanded PayPal's lending business in Europe. "Our platform doesn't just consolidate data – it offers actionable guidance, allowing treasurers to spend less time on spreadsheets and more on managing liquidity and strategic initiatives," added Pannu.

The platform’s swift implementation, often completed in weeks compared to the months required by legacy systems, makes it a game-changer for treasury teams. It utilises a proprietary AI toolkit tailored to individual business accounts, continuously refining its forecasting accuracy. According to the European Association of Corporate Treasurers, cash forecasting has been the top priority for treasurers in recent years, highlighting the market's urgent need for solutions like Palm.

Palm’s AI-driven platform offers three core features:

1. Cash Forecasting – Provides automated, accurate forecasts for each bank account with built-in accuracy scores.
2. Cash Positioning – Enhances operational efficiency by replacing manual cash reviews with smart, policy-driven funding recommendations.
3. Reporting – Transforms tedious reporting cycles into intuitive, dynamic processes, empowering strategic decision-making.

"Palm represents the next generation of financial tools that are reshaping the CFO's toolkit," said Olga Shikhantsova, Partner at Speedinvest. "As legacy software phases out, CFOs are increasingly turning to AI-enabled solutions like Palm that align with their evolving needs."

Palm plans to leverage the new funding to grow its team across product, engineering, and go-to-market roles, accelerating its expansion in Europe, the UK, and the US. The company is also seeking to forge partnerships with major consultancies to broaden its impact.

Commenting on the investment, Khalil Hefaf of Target Global stated, "We're excited to support Palm as they revolutionize enterprise treasury management. Their unique insights into industry challenges and ability to automate complex tasks will enable treasury teams to achieve unprecedented efficiency."

Currently in closed beta, Palm is opening its platform to new customers, including publicly listed companies in the US and Europe with annual revenues exceeding $1 billion. The company is poised to redefine treasury management, providing a financial infrastructure that empowers enterprises to manage their cash flows with precision and confidence.