International legal practice Osborne Clarke has advised cash management fintech Palm, designed to automatically view, manage, and report cash for enterprise teams, on its recent $6.1 million seed fundraising.
Palm was launched in 2023 by Christian Sobkowski and Gurjit Singh Pannu, formerly at PayPal and Uber and Remote, respectively, to help enterprise treasury teams understand and free up their operational cash, using automated workflows for forecasting and cash movement. The company has built an all-in-one platform to let businesses move money between bank accounts and subsidiaries in a more efficient way.
The funds raised in this seed round, led by SpeedInvest and Target Global, will allow Palm to expand its team, especially within the product and engineering spheres.
The Osborne Clarke team advising on this transaction was led by Partner Mathias Loertscher and Senior Associate Uday Mehra from the firm's corporate team.
"Mathias and Uday made this transaction a lot smoother than we expected it to be. With their help, we were able to continue focusing on our business rather than being pulled into the nitty-gritty. We always felt them in our corner."
Mathias commented: "It's been a pleasure to lead the Osborne Clarke team advising Palm over the past twelve months. They have built a truly innovative product that is already transforming the treasury management process for businesses globally, and we very much look forward to seeing them grow and continue to innovate in this space."
Osborne Clarke's corporate team are considered a go-to practice for many in the tech, media and comms sector, working with leading global businesses, fast-growth start-ups and market challengers. The team advises on all stages of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.
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