Rethink / Fintech / Team8’s Investment in Panax: Empowering the CFO with next-gen treasury automation

Team8’s Investment in Panax: Empowering the CFO with next-gen treasury automation

Hadar Siterman Norris May 8, 2024

In today’s fast-paced business world, accurate information is key. Yet, many CFO organizations struggle with data visibility, hindering effective financial strategies.  That’s where Panax steps in with its innovative liquidity management platform. We’re excited to lead Panax’s $15 million funding round, and believe in their ability to become a market leader, helping finance teams adapt to the digital age. Here’s why we’re backing Panax:

Navigating the New Terrain: CFOs Embrace Strategic Vision amidst Tech Complexity

In the world of corporate finance, while being frugal has its advantages in cost control, today’s CFOs must embody a strategic vision. It’s no longer just about cutting costs; it’s about making targeted investments to propel the company forward in an intensely competitive, globalized, and technology-driven business landscape. The adoption of technology brings a new layer of complexity that CFOs must navigate. Panax offers practical solutions to break down barriers and empower CFOs to handle this complexity with ease. It’s not just about crunching numbers; it’s about savvy leadership in the digital era, and Panax is leading the way.

Transforming Finance: The Rise of B2B Fintech Solutions

The last decade witnessed transformative changes for CFOs, fueled by a surge in B2B fintech solutions reshaping financial operations. Companies like AvidXchange, Airwallex, Brex, and PapayaGlobal have revolutionized finance departments with innovative solutions for supplier payments, expense management, and payroll automation. However, as specialized fintech solutions gain traction, they inadvertently diminish visibility and control over cash flows, amplifying financial risks. CFOs are responding by investing in technology solutions promising heightened visibility, enhanced control, and improved risk mitigation capabilities to manage increasing complexity effectively.

Investing Panax: Transforming Treasury Management 

Panax stands out in revolutionizing how CFOs approach financial management by delivering an integrated platform that enhances visibility and control across complex treasury functions. Through seamless integration of data from banks, fintech solutions, and ERP systems, Panax streamlines operations, reduces manual workloads, and empowers strategic decision-making. Moreover, by centralizing and automating key financial processes, Panax not only enhances efficiency but also reduces the risk of errors and discrepancies, safeguarding the financial health of organizations.

What truly sets Panax apart is its unwavering focus on bringing real value to customers from day one. Many of their customers have tried other solutions but ended up switching to Panax for its unmatched effectiveness. Mackenzie Moore, VP Finance at Oddity, attests to this:  “[Panax’s] automated data collection and analysis, and proactive alerts helped us automate our cash policies. This saves us not only money, but also many hours of manual work that we can now spend on more strategic activities.”

In a market where finance teams face challenges with high-interest rates and cash uncertainty, Panax provides an AI-driven cash flow management platform that empowers companies to optimize liquidity and gain control. The rapid traction Panax has gained in the market across multiple verticals, with many customers experiencing substantial savings and efficiency gains, underscores its effectiveness.

With fresh funding and a growing customer base, Panax is positioned for further growth. Scaling its sales and support teams, expanding its U.S. presence, and continually enhancing its cutting-edge treasury management solutions, Panax remains committed to delivering unparalleled value to its customers.

Panax’s Exceptional Team: Charter the Course for Financial Innovation

Panax is led by a trio of visionaries: CEO Noam Mills, CBO Niv Yaar, and CTO Sefi Itzkovich. Rooted in extensive private equity experience at FIMI, a leading Israeli private equity firm, Noam and Niv bring unparalleled insights into finance teams and solid management training to the table. Noam’s tenure as VP Finance at Mixtiles, a D2C tech company, and Niv’s background at Ernst & Young underscore their hands-on finance expertise and robust accounting skills.

Noam’s journey as an Olympic fencer at the start of her career exemplifies her stamina and drive for results. Her experiences on the field translate seamlessly into her leadership at Panax, where she instills a culture of relentless pursuit and disciplined training.

Meanwhile, Sefi, Panax’s CTO, was one of the earliest hires at Otonomo, a vehicle data startup, where he played a pivotal role in scaling the R&D and CTO organization, showcasing a track record of building and leading successful tech teams.

This distinguished team, a true CFO Tools “Dream Team” that both understands CFO needs and knows how to deliver, sets Panax apart, positioning the company for success in the competitive landscape of cash-flow management tools.

To learn more, check out their website:


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