Snab closes its first round of 1.1 million euros with the support of YCombinator. “There is a cultural change in the world of treasury and we want to lead it so that companies attract more talent,” says the CEO.

Spanish startup Snab has just picked up €1.1 million for its AI-based banking platform. With the software, Spain’s SMEs can, for the first time, completely automate the entire payment cycle. 

Born between Madrid and Barcelona, two booming startup cities, Snab is aiming to change this outlook. The startup has developed a banking platform that will give Spanish companies, for the first time, the ability to automate and digitize the entire payment cycle. Now, the fintech team has secured €1.1 million with support from Y Combinator. VC firm 4Founders Capital, the U.S. private investor, Glenfarne Group LLC, and business angels such as Kantox’s founder and the Spanish startup Belvo’s founders have also participated.

Snab, a Spanish business-to-business payments and cash management startup, has raised €1.1 million in pre-Seed funding.

YCombinator led the round, with contributions from 4Founders Capital, Glenfarne Group, and business angels from Kantox and Belvo.

The financing transaction amounts to 1.1 million euros and 4Founders Capital, the North American firm Glenfarne Group LLC and the founders of the ‘fintech’ Kantox and Belvo have also participated in it.

Snab, a payment platform that allows you to automate and streamline payments and transfers between companies in one click, has closed a first round of financing worth 1.1 million euros, in which it has had the participation of the prestigious accelerator from Silicon Valley Y Combinator, from where firms such as Airbnb, Dropbox or Coinbase were born.

• It has the support of the prestigious Silicon Valley institution YCombinator, the Venture Capital fund 4Founders Capital, the U.S. private investor Glenfarne Group LLC and the founders of successful companies in our country such as Kantox (recently acquired by BNP Paribas) and Belvo, among others. 

• The fintech offers SMEs a platform that automates, digitizes, and simplifies the management of Business to Business (B2B) payments, cash management and treasury. 

• The company will use this investment to further develop its platform and offer new integrated cloud solutions that enable finance teams to digitize and improve all areas of cash management and treasury. 

The objective of the Forbes Contest for Innovation by Kyndryl in its 2022 edition was to identify, value and recognize the most relevant initiatives that are contributing to the transformation of organizations and generating value for the business.

The 7 award-winning projects are a reflection of how innovation is a source of differentiation and competitiveness for companies, contributing to sustainable growth and social progress, whether by applying new business models and processes, redefining the way of working or creating new experiences of client.

We invite you to discover the winning projects in each of the categories, hand in hand with their protagonists:

The newspaper El Referente launches the second report on the 15 most valued startups by the Spanish business angels community.

Snab is a pioneering business-to-business (B2B) payments and treasury management platform in Europe that allows transfers and payments to be made in one click, without the need to enter manual data. The fintech simplifies, automates and digitizes the treasury management of small and medium-sized companies, through a unique cloud-based solution that allows companies to automate and digitize the entire flow of payments from start to finish.

With the company already set up, Gorka Aguirre, co-founder and CEO of Snab, decides to apply to be accelerated by Y Combinator, one of the great accelerators in Silicon Valley.

Snab is a collaborative cloud platform that allows, without the need to enter data manually, to manage the complete cycle of payments and collections of a company, as well as to obtain real-time visibility of the company’s cash position

The CEO and co-founder of Snab, Gorka Aguirre, shares his vision on the digitization of payments and talks about the experience of having worked with the largest start-up accelerator in the world.

Snab won Forbes’ Innovation Award 2022 organized by Forbes Spain and Kyndryl in a ceremony celebrated at the Thyssen Museum in Madrid on Tuesday the 22nd of November.

Gorka Aguirre shares his opinion on the state of corporate treasury. “The irruption of new companies that are committed to digitalization and automation is vital to develop and improve our productive industries. This leads us to consider that the digitalization of our economy is a matter of State.”

Snab.Project: SNAB. The first B2B payments platform that automates payments between companies (B2B) in Spain in 1 click, without the need to insert manual data.

Gorka Aguirre, founder of Snab, an early-stage fintech whose goal is to simplify, automate, and digitize treasury management for small and medium-sized businesses, comments on the impact of inflation on digital payments, as higher prices can offset lower consumption.