For too long, the importance of cash has been overlooked by many operating businesses and investors alike. Now, companies of all sizes have woken up to the benefits of diversification, security and attractive risk-adjusted returns.
London-basedTreasurySpring is changing this. It addresses the growing need for companies of all sizes to diversify their cash deposits, access high-quality investments and minimise their banking risk. This challenge is especially urgent in the wake of rising interest rates and recent collapses of SVB and Credit Suisse.
Through its platform, companies of all sizes can quickly gain access to over 600 standardised cash investment products.
International expansion on tow
Now, TreasurySpring has raised $29 million in Series B funding led by Balderton Capital that recently closed $600 million and invested in Uncommon and Clue. Mubadala Capital also participated in the round, alongside previous investors ETFS Capital, MMC Ventures and Anthemis Group.
With this, the total funding raised by the company accounts for $42 million. TreasurySpring will use the funds to invest in its product, sales, marketing and tech teams with plans to grow its headcount by 50% in the next 12 months, further develop its products and services, and accelerate international expansion.
Kevin Cook, co-founder and CEO at TreasurySpring, said: “We’re delighted that Balderton is leading our Series B round – they understand our world deeply and have all of the experience necessary to support us on our journey to becoming a global leader in institutional cash investment.”
Rana Yared, General Partner at Balderton Capital and TreasurySpring board member, said: “There is a huge opportunity to radically transform cash investment for all businesses, but it remains entirely overlooked. The TreasurySpring team are true experts and have built an innovative, elegant solution to make cash investing work for all businesses, regardless of size and structure.”
Rob Moffat, Partner at Balderton Capital added: “The TreasurySpring platform is a game-changer for so many businesses. We’re delighted to be backing the team in this round and look forward to supporting them in this next chapter.”
First-of-its-kind investment platform
Founded in 2017 by Kevin Cook, James Skillen, and Matthew Longhurst, TreasurySpring offers the first-of-its-kind investment platform helping firms of all sizes unlock and protect the true value of their cash assets.
The platform makes it easy for companies from FTSE 100 corporations and leading multinationals to series A startups and scale-ups to access a simple and secure platform for their cash which delivers higher returns, reduces risk and enables diversification.
The platform’s Fixed-Term-Funds (FTFs) provide standardised, regulated, access to an ever-expanding universe of cash-investment options, ensuring flexibility, safety and diversification for clients.
Wide range of customers
Since its debut, the TreasurySpring platform has accelerated, with over 100 clients currently in the onboarding process, adding to the 250+ institutional clients that are already signed up.
TreasurySpring has built the underlying infrastructure which enables companies through a single digital onboarding to quickly place their excess cash in over 600 regulated and standardised products across seven different currencies.
Clients include Schroders, Muller, Hg, Bunq, Lendable, Sainsbur’s Bank, Glovo, YuLife and Tide. With increased demand, TreasurySpring grew more than 7x in the last 12 months and total issuance through its platform now stands at more than $50 billion.
