“Can an AI-native treasury platform displace legacy TMS incumbents by giving midmarket finance teams agentic workflows across cash visibility, reconciliation, forecasting, and embedded payments?”
Panax started in 2022 as an automated cash-flow and treasury tool for finance teams at midsize companies in traditional industries that are too complex for startup tools but too small for legacy TMS incumbents like Kyriba. The 2024 Series A doubled down on that CFO-stack positioning. Through 2025–2026 the company has repositioned itself as an 'AI-native treasury platform' with agentic workflows (Panax Core Agents, Agent Builder) and MCP connectivity to Claude, and layered in embedded cross-border payments via Airwallex — moving from a visibility/reporting tool toward an agentic finance operations platform that both reads and executes on cash.
Panax processes payments through Airwallex.
Panax's cards run on Visa, Mastercard and American Express.
Panax uses Airwallex for FX and cross-border payouts.
Panax integrates with NetSuite, QuickBooks and Sage.
The Embedded Finance Index 2026 maps 4 layers in Panax's stack: Payments / PSP (Airwallex); Card network (Visa, Mastercard and American Express); FX & payouts (Airwallex); Accounting (NetSuite, QuickBooks and Sage).
Panax is founded in 2022 and headquartered in Tel Aviv, Israel (with NYC presence).
Panax has raised $20.5M in total (latest round: Series A, 2024).
Get a read on where your own stack stands against Panax and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.