Investment Platform for Cash Asset Diversification
London-based TreasurySpring has successfully raised $29m in a funding round led by Balderton Capital. The company is on a mission to offer large-scale treasury management services to businesses of all sizes and sectors. Founded in 2017, it aims to address the growing need for cash deposit diversification.
Supporting Businesses Across Sectors and Stages
TreasurySpring currently supports companies in various stages and sectors, ranging from Series A startups to FTSE 100 corporations. Its clientele includes fintechs such as Tide, Bunq, and Lendable, and corporations like Muller, Hg, and Schroders. In the past 12 months, the company has seen a growth of over seven times, with total issuance through the platform exceeding $50bn.
Striving for Diversification, Security, and Attractive Returns
According to CEO Kevin Cook, the importance of cash has been overlooked by operating businesses and investors. However, companies of all sizes are now recognizing the benefits of diversification, security, and attractive risk-adjusted returns as global interest rates rise and crises in the banking sector emerge.
Funding Round Participants and Future Plans
The funding round, which adds to a $10m Series A raise in 2021, witnessed participation from existing investors such as ETFS Capital, MMC Ventures, Mubadala Capital, and Anthemis Group. Rana Yared, a general partner at Balderton Capital, joins TreasurySpring as a board member. She believes that immense opportunity exists to transform cash investment for businesses, regardless of their size and structure, by leveraging TreasurySpring’s innovative and elegant solution.