UK fintech TreasurySpring secures $29m Series B funding
London-based TreasurySpring has secured $29 million in a Series B funding round led by Balderton Capital.
TreasurySpring secures $29m Series B
The round also saw participation from Mubadala Capital, along with existing investors ETFS Capital, MMC Ventures and Anthemis Group.
The fresh funding follows TreasurySpring’s $10 million Series A round held in June 2021, and brings its total capital raised to $42 million. According to TechCrunch, the latest round values the start-up at nearly $100 million.
Founded in 2016 by Kevin Cook, Matthew Longhurst and James Skillen, TreasurySpring’s fixed-term fund (FTF) platform enables holders of large cash balances to “minimise risk and maximise returns”, providing “simple, digital access” to a range of proprietary cash investments.
The company will use the new funds towards its product, sales and marketing teams, with a view to increase headcount by 50% in the next one year. It also plans to develop its products and services and accelerate international expansion.
“For too long, the importance of cash has been overlooked by many operating businesses and investors alike,” comments CEO Cook.
“As rates have begun to rise across the globe and crises have once again started to permeate the banking sector, companies of all sizes have woken up to the benefits of diversification, security and attractive risk-adjusted returns.”
TreasurySpring boasts a client list that includes the likes of Schroders, Muller, Bunq, Sainsbury’s Bank, YuLife and Tide, among others. In the last year, it claims to have grown more than 7x with a total issuance of over $50 billion through its platform.
