Market Overview

Trovata Launches New Cash Automation Platform


JPMorgan Chase Leads Seed Funding Round with Strategic Investment

Trovata, the first cash automation platform built on open banking for
finance and treasury operations, today announced it is launching its new
technology in a pilot with Square, Inc. and JPMorgan Chase & Co. Working
with Square's corporate treasury team and Treasury Services at JPMorgan
Chase, Trovata will aim to reinvent user experience, the exchange of
bank data, and automating treasury workflows. The platform will provide
the Square Treasury team financial data in real time utilizing
JPMorgan's Treasury Services APIs.

"Corporate treasury clients are seeking ways to better understand cash
positions, automate cash flow analysis, and dynamically forecast cash,"
said Jason Tiede, Managing Director & Head of Innovation, Treasury
Services, JPMorgan Chase. "We're always looking for ways to work with
our clients to provide better experiences and meaningful insights. Our
pilot with Square and Trovata will do just that."

Trovata also announced today that JPMorgan Chase led its seed funding
round with a strategic investment. Funds will be used to accelerate
product development and new customer engagements.

"This is a tremendous opportunity to advance our solution with a
technology leader like Square and JPMorgan Chase's innovative direct
APIs," said Brett Turner, Founder and CEO of Trovata. "This deployment
along with our seed funding will help us significantly in our efforts to
democratize the treasury function for a massively underserved broader
market beyond large corporates."

Founded in 2016, Trovata automates financial work flows, allowing CFOs,
Corporate Treasurers, Controllers, and Financial Analysts to quickly
connect to banks, ERP systems, and other data sources to power cash
insights, cash forecasting, and cash management. It aims to reinvent
legacy implementations and user experience by combining contemporary
consumer design, ease of use, and pre-built integrations with
enterprise-grade security, data science, and machine learning for
companies with revenues ranging from $5 million to $5 billion.

About Trovata

Trovata helps businesses automate the work it takes to gather and
normalize all of its financial data. Trovata lets finance and treasury
teams access, build, manage, and control their own trove of financial
data – from banks, business & accounting systems, and external markets –
in minutes. We help CFOs answer simple questions that are difficult to
answer without doing hours or days of work like, "How much cash do we
have right now and where is it going?" This lets us intelligently drive
efficiencies through transparent visualization and workflow automation
that can transform financial operating performance. Trovata is based in
San Diego, with satellite offices in San Francisco and Chicago. To learn
more visit

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services
firm with assets of $2.6 trillion and operations worldwide. The Firm is
a leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction processing,
and asset management. A component of the Dow Jones Industrial Average,
JPMorgan Chase & Co. serves millions of customers in the United States
and many of the world's most prominent corporate, institutional and
government clients under its J.P. Morgan and Chase brands. Information
about JPMorgan Chase & Co. is available at

View Comments and Join the Discussion!