Embat expands into global banking, led by Pleo’s Álvaro Dexeus

Embat, the AI-powered fintech specialising in treasury management, has launched a new banking product to harmonise cash management, international payments and collections, FX hedging, account reconciliation and more into a single workflow – creating a comprehensive one-stop solution for finance professionals.

Global Banking from Embat addresses the structural problems faced by mid-market companies with international operations. These include the time and complexity associated with opening bank accounts in a new country, the disconnect between banks and ERPs, and the lack of transparency and wide FX spreads that continue to hit the bottom line.

Businesses using Global Banking from Embat can open local IBANs in 22 countries within days using fully digital KYC. Every transaction is automatically integrated with leading ERPs, reducing the need for manual reconciliation. Customers can also hedge their exposures in more than 60 currencies. The product is underpinned by Embat’s proprietary AI tools and its Agentic AI assistant, TellMe.

Álvaro Dexeus has been appointed to lead the new product as Director of Global Banking. He joins from Pleo, where he was Managing Director for Southern Europe (France, Italy, Spain, and Portugal). Before Pleo, he held several executive management positions at Deliveroo, L’Oréal and Zipcar. He also has extensive banking and corporate finance experience from some of Europe’s largest banks, including Société Générale, Deutsche Bank and Commerzbank.

Álvaro Dexeus, Director of Global Banking at Embat, said: “Throughout my career, I’ve seen first-hand how even the largest multinationals are not immune to the operational challenges, silos and friction that exist within the European treasury, accounting and banking landscape. While advances in financial technology have been a game changer, AI is taking this transformation to a new level. Embat is at the forefront of this change, and I look forward to playing my part in expanding the Banking division across Europe.”

Antonio Berga, Co-Founder and Co-CEO at Embat, added: “I’m delighted to have Álvaro on board. He brings an exceptional track record in building and scaling fintech businesses, and his commercial acumen and deep understanding of the challenges facing finance teams at mid-market firms will give our customers unique expertise. This reinforces our strategic commitment to becoming the leading finance operating system for the European market.”