[Funding News] NYC-based Panax Secures $15Million in Funding

The business plans to utilise the money to grow its product development team, open an office in New York City, and extend its reach in the United States by scaling up its sales and support personnel.

Panax, founded by CEO Noam Mills, CTO Sefi Itzkovich, and CBO Niv Yaar, enables big and mid-market firms to optimise their liquidity via the use of AI-driven automation and analytics, giving them complete visibility and control over their cash operations.

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The business uses artificial intelligence (AI) to enhance forecasting and add additional features like transaction classification, proactive reporting, and trends analysis, all of which boost operational efficiency.

The platform centralises, automates, and optimises all treasury analysis and procedures, giving finance teams the knowledge and understanding they need to manage their cash flows and make the best choices possible to turn the finance department into a source of income for the company.

About Panax

As businesses expand, treasury management gets more and more intricate. Panax goal is to automate treasury procedures so that finance teams can optimise cash and control complexity.

With the help of Panax, finance teams can optimise daily cash and liquidity with complete control, visibility, insights, and forecasts across all financial data sources (banks, platforms, and ERPs).