1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Molten Ventures Plc
  6. News
  7. Summary
    GROW   GB00BY7QYJ50

MOLTEN VENTURES PLC

(GROW)
  Report
Delayed London Stock Exchange  -  11:35 2022-08-09 am EDT
411.60 GBX   -6.58%
08/03FTSE 100 Closed Up 0.5% as Pelosi Leaves Taiwan
DJ
08/03Markets Set a High Bar for Sterling to Appreciate on Any BOE Signals
DJ
07/25Altruistiq announced that it has received £15 million in funding from Molten Ventures Plc, Norrsken VC and other investors
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Molten Ventures : leads $20 million Series A in Airbank

06/14/2022 | 07:03am EDT

We are delighted to announce that Molten Ventures has led a $20m Series A funding round in Airbank, a finance management platform designed to help businesses save time and money.

Airbank's software modernises finance management by providing businesses with a wide range of solutions on a single platform - ranging from tracking cash flow and automating payments to handling expenses and accelerating accounting. Old finance management methods require considerable overheads with the average employee spending four hours a week on repetitive finance tasks including budgeting, forecasting, bill payments, and expenses.

Airbank seamlessly integrates into the existing systems of customers, connecting to the banks its customers already use, so they do not have to switch from their existing financial solutions. Within just a few clicks, Airbank offers the user instant insights into their finances and allows them to consolidate multiple accounts in one place.

"We're radically simplifying the process to help our customers save hours of analysis and administrative work so that they can redirect their time to actually running their business," said co-founder and CEO Christopher Zemina.

In six months since launching, Airbank has seen more than €1.5 billion in annualised transactions flowing through its finance platform. The money raised will be used to expand its team or c. 40 staff, invest in significant product and technical developments, and expand into several new markets.

The round was led by Molten, with further participation from business angels, Bruce Wallace (Strategic Advisor at Brex), Guillaume Cabane (Strategic Advisor at Ramp), and Cris Conde (Senior advisor to Accel Partners) and existing investors New Wave, Speedinvest, and Entrepreneur First.

"Airbank is unique in its vision of building the future of the end-to-end CFO suite," saidVinoth Jayakumar, Partner at Molten Ventures. "While massive companies have been built by becoming the integrated platform for various business functions, there has yet to be an obvious winner in corporate finance. We've been spending the last few months thinking about how the finance software stack will evolve and we're super excited about the platform Airbank is building to be the hub of where all financial decisions are made."

Disclaimer

Molten Ventures plc published this content on 14 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2022 11:02:04 UTC.


© Publicnow 2022
All news about MOLTEN VENTURES PLC
08/03FTSE 100 Closed Up 0.5% as Pelosi Leaves Taiwan
DJ
08/03Markets Set a High Bar for Sterling to Appreciate on Any BOE Signals
DJ
07/25Altruistiq announced that it has received £15 million in funding from Molten Ventures P..
CI
06/24MOLTEN VENTURES : Sustainability Report 2022
PU
06/22And Open Gifts Ltd announced that it has received $26 million in funding from Molten Ve..
CI
06/14MOLTEN VENTURES : leads $20 million Series A in Airbank
PU
06/14Airlabs UG announced that it has received $20 million in funding from Molten Ventures P..
CI
06/13MOLTEN VENTURES : Annual Financial Report
PU
06/13Molten Ventures' FY22 Profit Climbs On Higher Investment Gains
MT
06/13Earnings Flash (GROW.L) MOLTEN VENTURES Reports FY22 EPS GBX198.00
MT
More news
Analyst Recommendations on MOLTEN VENTURES PLC
More recommendations
Financials
Sales 2023 180 M 218 M 218 M
Net income 2023 129 M 156 M 156 M
Net cash 2023 41,2 M 49,8 M 49,8 M
P/E ratio 2023 8,87x
Yield 2023 -
Capitalization 626 M 757 M 757 M
EV / Sales 2023 3,25x
EV / Sales 2024 2,24x
Nbr of Employees 48
Free-Float 88,3%
Chart MOLTEN VENTURES PLC
Duration : Period :
Molten Ventures Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MOLTEN VENTURES PLC
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 411,60 GBX
Average target price 960,50 GBX
Spread / Average Target 133%
EPS Revisions
Managers and Directors
Martin Michael Arthur Davis Chief Executive Officer & Director
Benjamin David Wilkinson Chief Financial Officer & Director
Daragh Phelan Finance Director
Karen Slatford Independent Non-Executive Chairman
Jayson Tulloch Manager-Information Technology