How SeQura turned its treasury into a continuous liquidity engine with Embat

In just a few years, the way we shop has changed completely. Consumers no longer want to rely solely on a card or a bank loan to finance a purchase. They want options that are fast, transparent, and frictionless. SeQura understood that shift before almost anyone else in southern Europe and built a business on it that now processes billions of euros every year. But a business that manages liquidity and risk at scale needs, more than most, a treasury function that can keep pace. That was the challenge SeQura solved with Embat.

A profitable fintech in a sector that rarely is

SeQura was founded in Barcelona in 2013 on a simple idea that few had explored at the time: separating payment from the purchase process to improve merchant conversion. It pioneered deferred payment in southern Europe, a market that lacked the risk infrastructure found in other countries, so it developed its own algorithm to assess credit reliably in a matter of seconds.

SeQura grew at an average rate of close to 100% a year during its first five years and today works with more than 5,000 merchants and over two million consumers.

Behind these figures, however, lies a demanding financial operation. SeQura guarantees payment to its merchants and takes on the risk of non-payment, funds part of its activity through credit lines from institutions such as Citi and Chenavari, and operates across several markets with a highly granular portfolio. Every euro counts, and managing it has to be as efficient as the business model it supports.

A volume that spreadsheets could no longer sustain

SeQura reached a turning point. As the business grew, its treasury still relied on spreadsheets and decentralised processes. The information existed, but it was scattered across banks, accounts, and spreadsheets, with no consolidated or real-time view.

Bank reconciliation was manual and payment processes were spread across the organisation, multiplying the team's workload just as transaction volumes kept rising. For a company that had made capital efficiency its competitive advantage, spending hours matching transactions and rebuilding the cash position was at odds with how it ran the rest of the business.

On top of this came a more fundamental problem. Without a unified, up-to-date view, anticipating liquidity needs and making decisions with confidence was becoming increasingly hard.

A single source of truth for all liquidity

That was when SeQura decided to bring its treasury up to the same standard as the rest of its operations. It chose Embat to bring bank connectivity and integration with its ERP, NetSuite, onto a single platform, alongside accounting, reconciliation, forecasting, debt management, and payments.

Complete connectivity across banks, NetSuite, and third parties

The change did not happen overnight, and the first step was establishing the connections. Embat integrated SeQura's accounts through several bank connectivity channels, including API, EDITRAN, H2H, and Corporate API, as well as its NetSuite ERP and third-party tools. Financial data stopped living in silos and began flowing to a single point, without manual uploads or separate banking portals.

Consolidated cash position in real time

Building on that connectivity, SeQura gained a single dashboard showing all its accounts and a consolidated, real-time cash position. From one view, the team checks balances and transactions across every bank without manual adjustments. The cash position is no longer built from scratch. It is simply consulted.

Automated accounting and reconciliation at scale

This is where SeQura's scale makes automation critical. Embat learns the company's patterns, assigns the correct category and bank product, and matches each transaction to its counterpart. Every entry posted is then reconciled automatically.

The figures speak for themselves. Of more than 100,000 transactions accounted for, 96% are processed through rules, with minimal manual intervention. In a portfolio this granular, that percentage is the difference between a team that reviews exceptions and one that reviews every transaction individually.

PSP reconciliation

As a payment provider itself, SeQura has an additional layer that few companies deal with: reconciling the flows from its payment service providers (PSPs). Embat brings this reconciliation into the same workflow, matching what SeQura collects, finances, and settles without leaving the platform.

Dynamic cash flow forecasting

With operations in order, SeQura combined its actual cash flow with an automated short-, medium-, and long-term forecast, based on the real behaviour of its flows rather than theoretical payment terms. On that basis, it can also build dynamic scenarios to anticipate cash pressure and plan its growth. TellMe, Embat's AI agent, analyses historical patterns, flags forecasts whose dates do not match reality, and suggests corrections. Every adjustment the team validates is fed back into the model, so the forecast becomes more accurate the more it is used. The team supervises and decides, while TellMe learns from each decision and adapts to the way it works.

Debt control and cost of funding

For a company that funds its activity through third-party credit lines, debt control is anything but an afterthought. From the same platform, SeQura now manages its debt schedules, tracks the covenants attached to its financing lines, and optimises its cost of funding. It has also brought cash pooling and intercompany automation into Embat. The result is a more efficient use of cash and less reliance on external financing.

Payments as the natural next step

Once visibility was consolidated and accounting and reconciliation were automated, activating the Payments module was the logical next step. With operations already centralised, SeQura began executing and controlling its payments from the same platform, with approval workflows and a direct H2H connection to its banks. Centralising payments in a single workflow with a complete audit trail reduces operational risk, no small matter for a company handling SeQura's transaction volumes, and closes the full liquidity cycle without adding parallel systems or processes.

The impact: scaling the business without scaling the team

What really changed was the operating model. SeQura moved from a fragmented treasury to a reliable, immediate view of a cash position that updates itself, supported by processes that make it possible to keep scaling the business without adding headcount.

Consolidated, real-time visibility reduces errors and has given the leadership team a reliable foundation for anticipating liquidity needs and making decisions with confidence. And with debt under control and cash put to better use, every euro works for the business.