More than two decades into his career in risk and compliance roles across PayPal, EY, ING, Rapyd, etc., David decides to not settle but go the other way — start a company to bring “sexy” back to treasury. 

Together with several other seasoned fintech and finance executives, including the guy who brought PayPal to Asia, he started Finmo to take a different approach to solving the treasury problem for global companies. This treasury problem is one that has become more pressing in recent years with the bank runs and rise of “global from day one” companies. And it’s a problem that leaves no business unscathed. 

We go on call with David to talk about Finmo’s modularized approach to automating the CFO office, and what this means for the next generation of fintech in Asia. 

We also talk about his journey starting up Finmo, raising their Series A round with us at Insignia Ventures Partners, and why he’d like to learn the Kpop dance moves of his co-founder. 

Timestamps

(00:04) Highlights;

(00:38) Everyone has a treasury problem;

(04:07) Why is there a treasury problem and what recent bank runs have to do with it;

(09:53) How it helps to have the grandfather of PayPal in Asia, and licenses too;

(16:23) Are you sure you want to do this (so late in your career)?;

(20:36) How global companies are bringing on the next generation of fintechs like Finmo;

(25:36) Finmo’s modularized approach to solving the treasury problem;

(34:04) Bringing sexy back to treasury by tackling the problem in reverse;

(37:59) Rapid Fire Round;

About our guest

David Hanna is CEO and Co-founder of Finmo. He has had more than a 20-year career in risk and compliance leadership roles. Prior to Finmo, he was Chief Risk and Compliance Officer at Rapyd, spent more than six years as Regional Director for Enterprise Risk and Compliance at Paypal, and more than six years as Senior Manager of Compliance and Regulatory at EY. He graduated from La Trobe University with a degree in Business Management.

About Finmo

Established in late 2021, Finmo is a modern, API-based plug-and-play Treasury Operating System (TOS) for global companies, combining automated payments operations with best-in-class cash and risk management tools to enable Treasury departments to accelerate their digital transformation journey. Finmo is licensed and regulated by central banks globally and works with more than 200 merchants today, addressing the US$100B payments gap in APAC today. The company is led by former Paypal executives in APAC, including the former head of Paypal Asia and the former Regional Director for Enterprise Risk and Compliance, as well as former directors of Mastercard and Citi.

Transcript

Everyone has a treasury problem

Paulo: So I have with me none other than David Hanna, the CEO and co-founder of Finmo, a company that is building the next-generation treasury operating system. We’ll talk about what that means. 

If you’re unfamiliar with exactly what that entails, you’re in the right place because we’re going to explain what Finmo is and what it means for businesses globally. 

David, thanks for coming on the show. I believe you’re dialing in from Australia, right?

David: Yeah, that’s right. No, thanks for having me, Paulo. It’s great to be here.

Paulo: Yeah, so I guess just a quick introduction for our listeners out there about Finmo. I did mention “treasury OS,” but maybe you can expound a little bit on that, especially for those hearing about you for the first time.

David: I think we’re pretty excited over at Finmo. We’re effectively solving what we like to call the CFO office, right? Which is essentially the treasury management platform for mid-market enterprises. 

A typical use case and kind of problem that we’re solving is a mid-market client that has several bank accounts around the region with some complexity of org structure. Today, most organizations are managing this through different solutions. What Finmo is doing is bringing that together into a single platform to solve various aspects of the treasury lifecycle.

Paulo: So I think it’s definitely a sort of rebundling thesis that you guys have. You have a lot of these already existing solutions out there, but they are very fragmented. It can be very difficult for enterprises to find out what services they need and to pay for all these different services. 

So you guys are consolidating that into a digital CFO office, as you mentioned earlier. I’m sure our listeners are curious to know how exactly you decided to start this. You’ve had quite the career in risk and compliance, from ING all the way to Rapid, leading and working for various fintechs. What pushed you to finally start Finmo?

David: It’s an interesting question. I think I’ve gotten it a fair bit lately. From my perspective, I spent the last 20 years in the regulatory space, as you mentioned, typically in global chief risk officer roles and the like. 

From my perspective, I saw the same problems in many different organizations and across various merchants that we were working with. Frankly, we have a kind of saying internally: everyone has a treasury problem. What kind of was the catalyst was meeting my like-minded co-founders. 

Coming together from a couple of former organizations that we had worked with, we thought, “Hey, instead of doing it for others, why don’t we do it for ourselves?” We’ve got the necessary skill sets, and Finmo was formed roughly four years ago.

Why is there a treasury problem and what recent bank runs have to do with it

Paulo: Do you have any stats or examples to illustrate exactly the pain points around the treasury problem? Specifically, how much of an impact it can have on businesses, especially if they leave it unchecked? This is the treasury problem that you say everybody has, right?

David: So we’re a B2B-focused company. There have been various studies over the last year or so around this space, and the addressable market for B2B flow is about $150 trillion. From our perspective, there’s a sizable addressable market that we’re helping to solve.

When you talk about treasury issues and problems, I think of the example of simple fintechs starting out in the space. Typically, they want to market their product, figure out their runway, and how they can add value to their clients. They need to get a business off the ground.

What we’ve found is a huge demand coming from that space. Fintechs want to serve their customers globally from day one. Gone are the days when you start in one market and then enter another. Now, they have funds collected all over the region and the globe.

Therein lies the problem of treasury. They need to figure out how to de-risk the fluctuation from an FX point of view, get consistency with cash management visibility, and look at yield and return on their funds. Quite quickly, they recognize the challenge of treasury management. That’s what we’re really trying to solve for our customers.

Paulo: That reminds me of a recent conversation I had with the CFO of one of our portfolio companies, Awantunai. They do financing and get funds from all over the world. They have to negotiate the best rates to maximize the financing options they can offer to Indonesian SMEs. 

I can imagine that it can be quite a complex calibration, and it helps to have a platform like Finmo to assist in that regard.

David: Actually, further to that, if you think about the problem we’re solving, at the smaller end of the market, a small flat organization might use accounting software like Xero or QuickBooks. This might be fine for their needs. 

At the large end of the market, they might buy software like Ariba or other large enterprise solutions, which can start at half a million dollars and above. You still need to code, develop, and mold it to your business. The problem we’re solving is in that mid-market space, where there’s complexity around the region, multiple bank accounts, and multi-org structures.

Every treasurer we’ve spoken to over the years has mentioned the challenge of pulling everything together. For example, the CFO might call the treasurer and say, “Spread my cash around to de-risk the banking scenario.” The treasurer then has to consolidate this information, often using various tools and platforms.

They tend to rely on Excel to download data, manipulate it, and figure out their cash position. This is a broken process. What Finmo is doing is bringing all of that together into a single platform to solve the treasury problem.

Paulo: You mentioned the bank runs in recent years being a catalyst for a lot of demand, especially from the mid-market segment you refer to. How has that impacted the adoption of Finmo as a platform, and how have you sold this platform to your target customers? How does it differ from other software you’ve sold or worked with in the past?

David: We’re definitely addressing what seems to be a newish problem for organizations. The catalyst, as I mentioned, is the bank runs, the fact that organizations are global from day one, and the complexity of managing different banking infrastructures around the globe.

These new problems are being faced every day by payment players, fintechs, trade, export merchants, etc. The need to better manage this complexity is clear. Frankly, we don’t see a similar platform in the market today. We believe we are category-defining in terms of the treasury operating system.

There are organizations tackling this from different angles, such as open banking in mature markets that pull in data insights to a merchant’s banking infrastructure. However, they can’t necessarily move money in real-time. Finmo solves this by providing insights and then actioning it through the funds flow and rails, as we’re connected to the global banking infrastructure from a real-time payment point of view. 

I think we’re tackling it differently from what’s currently available in the market.

How it helps to have the grandfather of PayPal in Asia, and licenses too

Paulo: I really like how you frame it as combining the insight side with all the data and then the movement side, which is actually getting the money where it needs to be. When it comes to the movement side, you do need licenses to operate in different markets. Can you share a little more about that journey of securing these licenses?

Were the regimes already existing? Did you have to talk to regulators to introduce this kind of service, especially since you mentioned it’s category-defining? How do you think these licenses have given Finmo an advantage in this space?

David: Absolutely, good question. And look, for my sins, I’ve been in that space for 20 years, right? In terms of the regulatory background, etc. So I know it fairly well. Former PayPal, former Ernst & Young on the advisory side, Rayd, as you say, etc. 

A lot of the co-founders are coming from a similar background. We’re a bit unique in that regard in that it’s not our first rodeo. We’re not as young as other fintech founders, for better or worse. But we understand the problems of treasury and regulatory.

From a regulatory point of view, most regulators in the region, particularly around Asia, are starting to become more mature to these types of business models. There is a pretty clear framework in terms of licensing infrastructure. To your point, we went after the licensing component from day one, and now we’ve got five licenses around the globe.

We think that’s our moat, having the ability to connect directly into the banking infrastructure. To do that, you need licensing. You can control the end-to-end experience with our merchant base, and you should be robustly regulated. 

From a treasury platform perspective, if we’re holding millions and billions of dollars worth of client funds, we want to be in a position where the most robust regulators are overseeing our business. That’s how we see regulatory compliance and licensing and why we’ve taken this approach from the beginning.

Paulo: And I think that’s really a part of the trust you’re trying to build with your customers. Another component of that trust is the leadership team you’ve assembled. You mentioned you’re not your typical fintech founders, but at the same time, you have very fintech backgrounds, right? Coming from PayPal, Rapyd, and other companies. 

Can you share a little about the caliber of the management team? Maybe share an interesting story about bringing some of these folks into Finmo, especially since they’ve come from senior leadership positions to start something new with you.

David: Look, I think we’re very blessed, frankly, in terms of the people on the team, right at the leadership level and throughout the organization. Every day, people are driving and continuing the momentum. Our leadership team comes with at least 15 years of experience each, with most having 20 plus years. 

One reason we decided to jump in is that we don’t have just one aspect of the pie. We have the regulatory guy, the tech guy, the network, the sales, compliance, and more. We knew we could tackle each of the problems collectively in a way that hasn’t been done before. 

Our leadership team, individually and collectively, is definitely punching above the average weight. As with any fintech, there are ups and downs, but this team leans in to tackle problems and deal with issues. By the way, we actually like each other. We’ve worked together across multiple organizations, and our mindset and thinking are aligned, so it made it relatively easy to do this.

Paulo: I did want to talk about Richard, who you worked with at PayPal. He was one of the guys who really brought PayPal to this part of the world. Can you talk a little about how you brought him on board and what it was like working with him back at PayPal and now at Finmo?

David: Definitely. He may not forgive me for this, but I call him the grandfather of PayPal. The reason for it is he was with the group for 19 years. He’s got a seriously deep network. He used to run global core payments for PayPal Asia and brought the Singapore business to the market.

We worked together in an organization after PayPal, but we’ve known each other since the PayPal days. One funny story is that, while I was based in Australia and running the regulatory and compliance aspect, when I used to fly up to Singapore to visit him, he always used to avoid me. He thought I was coming to review his scenarios or team.

It took a few years to convince him that I’m pretty commercially minded. We built a solid relationship from there. He’s been a great asset to Finmo, one of the co-founders, and a key contributor to where we are today. He brings a wealth of knowledge and network capability.

Paulo: Yeah, not bad to have the grandfather of PayPal on your team. You mentioned that you work out of Australia, and I believe you’re in Singapore. You have leadership and team members all around the globe. How do you navigate managing this very global operation as a CEO?

David: Yeah, for sure. The like-mindedness helps. Everyone is coming from the same base and position. We catch up regularly with leadership calls on a weekly basis. The running joke is we probably speak to each other more than our own families and wives.

We’re constantly on Slack, WhatsApp, and other channels. We have a pretty open line of communication. Most of the leadership team is in Singapore. I probably spend far too much time there, but I’m flying between both countries. Tom, who leads our sales organization, is in the U.S.

From a leadership team perspective, we’re relatively closely connected, with the majority in Singapore, me in Australia, and Tom in the U.S. The nature of what we’re doing is global. We’re going to have people all over the world, including the UK and potentially the UAE.

The mature mindset of the founding team and making sure that people remain connected and aligned helps. Because of our background in running global teams in the past, we know what it takes to align and work through it.

Paulo: That’s just another way of how you guys are your own customers in some sense. You have the same characteristics as many of your customers.

Are you sure you want to do this (so late in your career)?

Paulo: I did want to also talk about our relationship with Finmo and Insignia. How did you guys meet? Maybe you can share a little bit about that anecdote or anything funny or interesting from your first meetings with our team. And how has that partnership evolved since then over the past year?

David: No, absolutely. Look, we’re very grateful for the partnership with Insignia. I think, with Shefali and Yinglan really partnering with us in the early stages through an ongoing dialogue. From our perspective, I think Yinglan definitely got the problem that we’re going after, and that’s what made it very easy to partner with Insignia.

We’re constantly looking for like-mindedness, right? They understand the CFO office, the problem, the size of it, how we’re tackling it, etc. I think also the mature mindset of the Insignia team to understand that the problem we’re tackling is a multi-year problem. 

Funnily enough, one of the things that Yinglan said to us early on, particularly to me and Rich, was, “Are you sure you want to do this so late in your career?” I didn’t quite know how to take that, but I think he was essentially saying that most fintech founders are coming from a relatively raw base, whereas perhaps some of us are doing it later in our careers.

But no, look, I think the whole team has been pretty supportive of what we’re doing. We catch up with Shefali on a regular basis. There’s an openness and transparency in terms of how we’re doing, how they’re doing, and what sort of value they can continue to bring to the table. So we’re very happy to be partnering with Insignia, for sure.

Paulo: You did mention it is a multi-year kind of problem. And you did mention that tongue-in-cheek question from Yinglan. 

So I was wondering, what does this whole venture with Finmo mean to you as an entrepreneur in your personal journey, in your career? How do you keep the energy alive and remain resilient, given all you’ve seen in your years in the space and the complexity this space can bring? How do you keep going?

David: Without a doubt, there’s complexity in what we’re doing and what we’re trying to solve, for sure. I think, again, the philosophy that we have is that every problem has a solution. So taking that mentality in what we do on a day-to-day basis, pushing forward, continuing to lean in, tackle problems, and not look back, is crucial. If you have a bad day, if there are issues as a fintech founder or whatever the case is, you deal with it, move forward, get up, and get going again.

All those statements seem relatively cliché, but the reality is that, as a founder with a couple of decades of experience, you develop a relatively thick skin for these things. You know that tackling certain problems comes with a kind of maturity and mindset. That’s what we bring to the table.

Another important aspect is the people, both in leadership and throughout the organization. The culture we have internally is very transparent and open. We share where we are as a business, where we’re going, our results, and so on. People feel the need to lean into that and join us on the journey. 

When issues arise, we deal with them transparently because it’s not a single person’s problem or a certain function’s issue—it’s a Finmo issue. So, let’s deal with it, move forward, and move on to the next thing. This philosophy of tackling things head-on, getting up, and moving forward is what we run internally.

How Global Companies Are Bringing On the Next Generation of Fintechs Like Finmo

Paulo: On that note, I did want to say that David posts a lot about Finmo on his LinkedIn. So I do recommend checking out his profile if you want to follow their journey and the milestones they’ve had so far.

So I did want to spend this next part really talking about the trends and how Finmo fits into this whole narrative of fintech over the past few years. 

Why is Finmo’s entry today the right time? You did mention the bank runs and all of that, but especially from an infrastructure perspective and existing innovations out there, how does it build on past innovations, and how does it fill in the existing gaps and market offerings?

David: I think the way we think about it internally is that we see ourselves as the next generation of fintech, right? Call it gen two, gen three, whatever you want to call it. The traditional sort of fintech in the payment space more broadly is about moving money from one jurisdiction to another and doing that with an FX spot rate that maximizes efficiency. 

That’s great, and that’s what we call the traditional money movement. Finmo has that as one of its key modules. A lot of customers come to us wanting a named account to move money from here to there and settle it back to their home country. No problem. 

I think the way we’re solving the next problem is when you collect from different parts of the world and have multiple bank accounts, including bank accounts or virtual accounts with Finmo or named accounts, however you want to position them, then enters the treasury problem.

How do you bring all those funds together? How do you maximize your return on some of these funds that are floating around? How do you solve for the spreading out of cash globally to de-risk the kind of run-on-banks issue that we saw a couple of years ago while maximizing different components of treasury?

Having visibility of cash management throughout the globe and region, depending on where you’re situated, and maximizing yield and return capabilities, as I say. Looking at your AR/AP processes and how you manage that in a way that relates to your cash management visibility. How do you optimize FX in a way that isn’t just about spot trading from one currency to another? 

If you’re a dollar-based company, for example, and you’re collecting in Indonesia, the Philippines, Thailand, Singapore, the US, etc., and you need to de-risk the FX fluctuation, you can hedge directly on the Finmo platform and manage that risk over time. A lot of the traditional players perhaps use different tools to do each of those different jobs. 

What Finmo is doing is having the connectivity into the banking infrastructure to move funds in real time and then provide additional value and support to manage the treasury end-to-end lifecycle.

Paulo: So it’s really more than just about money movement or even fund management. In a way, it’s really about risk management, whatever the source of risk may be, and moving from a P2P point-to-point platform to a many-to-many platform where it doesn’t matter how many sources or destinations there are for your funds. 

You mentioned in part one that you guys are very much focused on the mid-market segment, especially businesses that have just gone global and are trying to diversify their funds and the banks they use. Any other interesting trends in terms of the types of businesses that you’ve worked with, the sectors they’re coming from, or anything interesting there?

David: What’s interesting is that we’re excited about the fact that, as I mentioned earlier, everyone has a treasury problem. We’re seeing all different types of merchants come to us to use the platform, including fintechs and players that are starting out, etc. 

The trend we’re seeing from our point of view is that merchants really want to manage the end-to-end process.

We’ve actually built directly with treasurers, so instead of building a product, throwing it to market, and then figuring out feedback, we’ve taken treasurers into our product development process and helped give real-time feedback for actual problems they face day-to-day. 

A simple problem is logging into 10+ bank accounts daily and downloading into an Excel file. That’s a super inefficient way of managing a global treasury book, right?

So we start there and move through the lifecycle with the treasurers directly. There are many trends becoming more prominent from a treasury management perspective that we’re trying to solve. 

One thing we’ve seen is the banking infrastructure with global organizations holding their cash within one environment. This produces issues for larger players.

Another trend is the day-one global trend. You used to set out with a bricks-and-mortar business, physical, etc., hack away at one market, grow perhaps into another region, and so on. 

Now, most organizations want to be global from day one. This means added complexity with respect to currencies, regulatory matters, and all that sort of good stuff. So we’re seeing a range of things across these different aspects.

Finmo’s Modularized Approach to Solving the Treasury Problem

Paulo: I was wondering, given the different trends that you’ve seen in the market, what is something unexpected that you’ve learned from the customers? You did mention that you worked very closely with treasurers to read about this product. Any interesting conversations that you’ve had that you weren’t expecting to hear from them?

David: It always amazes me that when we even go upstream into large enterprises, and I’m talking about multinationals that are huge, they are still managing their treasury process by Excel. That one surprises me every time I hear it because there aren’t many tools out there that can solve this problem.

From our point of view, we constantly get feedback on the UI and usability, making it simpler to solve some of these problems, etc. But really, it brings it back to some simple problems we’re trying to solve in aggregate. 

The process of logging in, yield management, de-risking FX fluctuations due to macro activities, etc., sounds simple in isolation, but when you put them together, that’s where the complexity comes in. 

So we’re trying to make that as seamless and easy as possible for traditional treasurers and treasury teams to use one platform to solve those problems end-to-end.

Paulo: You can’t really remove the complexity from reality, but you can at least, from a user perspective, make it a lot easier for them to manage. You’ve talked a lot about the value you give to your customers. What does success look like for the customers at Finmo? Do you have any case studies or stats that highlight gains from using the platform?

David: The way we tackle it is that we actually want to solve problems, and part of the MO of the founding team is exactly that. We started Finmo to solve a problem. For each of our customers, we also want to solve their problems and needs. The problems vary because we’ve taken a modularized approach to treasury.

You can use us for money movement, the FX piece, integration for AR, for AP, etc. We tackle client by client on a problem basis, rather than winning based on a price war, which ultimately ends up with the lowest bar winning. 

We’re not trying to solve that type of problem. We want to work with organizations that have real problems around treasury, whether it be from a money movement or broader perspective, and figure out how we can add value to each client. 

We take a very personalized approach to how we work with each client and have a great operations and support team to help bring that to life. 

One thing we’ve learned is there are many ways to slice and dice problems. It’s not a one-size-fits-all solution. What might be suitable for one particular client may not be for another. We try to bring that out in the solutioning and the way we tackle each customer relationship.

Paulo: I guess the challenge with trying to modularize or customize for different customers is prioritizing, right? You only have so many people to field, and the solution can only have so many components at any point in time that customers can tap into. 

How do you prioritize the different pain points you want to tackle? Has it naturally fallen into some kind of progression that you’ve seen?

David: That’s a really good question. We do try and prioritize a lot at Finmo. We have a concept internally called the “top five.” On a week-to-week basis, we talk about the top five initiatives company-wide. Each leader and the leadership team hook into those top five because those are the key things we need to solve for our customers. 

To get to the top five, which could be strategic in nature, they’re often not a quick fix. They could last a quarter or two quarters, but we’re always focused on those top components. In terms of prioritization, the more we see from customer feedback, the more it makes its way up to the top five. 

We have Akhil, who runs product, helping us prioritize what goes on the roadmap. We have a rolling top five as a company so we’re not distracted by new shiny objects or things we can’t solve across a range of customers. 

Paulo: Do you have an example of a recent feature that came out because of that kind of prioritization?

David: One feature that came out was a lot of customers saying, “Your infrastructure is so rich from an RTP perspective and coverage point of view. Can we use your infrastructure from a white-label perspective?” Out of that, we developed what we call a partner portal. With the partner portal, other fintechs can effectively build on top of us. 

Instead of them going after the licensing, building the tech and infrastructure, we can give them a truly white-labeled experience with their own URL, portal, components, and capabilities to service their merchants. This was born out of customer feedback and prioritization.

Paulo: And I mean, that’s not just a feature. That’s actually another layer. So it’s not a small feature.

David: No, that’s for sure. That’s the way we operate at Finmo. We move fast, and our tech, engineers, and product folks are amazing. They can turn these things around relatively quickly. I always say it, but I think we’ve got some of the brightest minds in the business to be able to do this. We’re very blessed in that regard.

Paulo: If any of our listeners are interested, I have David’s LinkedIn in the podcast description, and you can reach out if you’re interested in joining the team. 

Speaking of tech, I also wanted to talk about AI a little bit. How do you see this technology, specifically generative AI, impacting Finmo and this space? Do you see any low-hanging fruit or opportunities to scale up what you’re already doing pretty quickly?

David: Yeah, definitely. It’s an interesting aspect and one that we’re watching closely. From our perspective, we’re watching and potentially using with caution. When you’re dealing with customer funds and money, you want to inject AI capabilities in a very controlled way. 

For us, it’s a watch-this-space at this point. But there are some lower-hanging fruits that can be automated from an AI point of view. There are also aspects that can be enhanced. One example is the regulatory component. AI can provide more context for investigations of particular transactions or regulatory aspects like sanction screening. 

AI can enhance this by gathering more rich information to either dispose of alerts from a transaction monitoring perspective or what have you. There are lots of ways to continuously enhance lower-hanging fruit that doesn’t involve the movement of money, which we have to approach with caution. We’re definitely thinking about AI in other aspects, operationally, for sure.

Bringing Sexy Back to Treasury by Tackling the Problem in Reverse

Paulo: How do you see the competitive landscape evolving in this space, given that you mentioned in the first part that it was very category-defining? It’s really the next generation moving from what existing solutions are providing in terms of scope, accessibility, and seamlessness of the experience. Do you see a lot of existing players rebundling treasury, or how do you see that evolving?

David: Yeah, it’s interesting, right? I think treasury is becoming more sexy, if that is, in fact, possible. 

From my point of view, we’ve seen what I refer to as generation one organizations that perhaps look at treasury in a different light now that there is more opportunity in that space. What we’re doing from our point of view is building deeply in the treasury space from day one. We’ve tackled it from a regulatory perspective, from a tech stack point of view, etc.

A lot of competitors are perhaps approaching it from an open banking point of view and then moving through to funds flow. We’ve tackled it in the reverse. We’ve gone after the regulatory aspects, built the pipes, developed the RTP capability, and then laid on top the kind of insight and action, dealing with the treasury solution. 

This means that if merchants want to use us for just money movement, in that modularized approach, they can do just that. If they want to take additional value from the treasury component, they can do that as well.

From our point of view, we’re seeing the contrast between the open banking model, which pulls data in but doesn’t move funds, versus our model, which can pull data in, move funds, and provide actionable automated workflows. I think that’s how we’re tackling the problem differently.

Paulo: Modularization is really the key there. I think it speaks to a larger trend of what I call the “smartphone-ization” of B2B software, where you take the B2C experience and plug it into different functions while retaining the compliance and necessary guardrails for transactions that can involve millions of dollars. I have one more question before we head into our rapid-fire round.

Given the space that Finmo’s in and your experience, apart from using Finmo, do you have any other advice for CFOs and treasurers who are going global and trying to build a global business and treasury?

David: Yeah, for sure. Absolutely, we’re happy to hear from CFOs and treasurers who want to use our solution. But we also love to hear feedback from people in this space because we think that tackling the problem together is beneficial. It is a complex problem, and feeding into a product like Finmo can be helpful for the industry in general.

From a CFO perspective, there are many different components they’re already using to tackle these issues in isolation. One of the things becoming more prominent is the spread of banking infrastructure all around the world. 

This problem has been a catalyst for players like Finmo. CFOs understand that problem, and there isn’t necessarily a one-stop-shop that solves that lifecycle.

In general, we’re relatively connected to the market from a treasury perspective. We work with treasurers from different organizations and segments. We’d always love to hear feedback from that community to help build some of these solutions together.

Paulo: On that note, do reach out to David. As I mentioned earlier, I’m leaving his LinkedIn down below in case you want to get in touch and talk about the space further from this call.