Enterprise fintech Treasury4 closes Series A at $20m
Enterprise fintech Treasury4 has raised $20 million in a Series A funding round as it seeks to develop its legal entity and cash management solutions for chief financial officers (CFOs) and their teams.
Treasury4 raises $20m Series A
The round, which succeeds its November seed funding round of more than $3.5 million, was led by the growth equity firm WestCap, with additional participation from Cowles Company, Fortson VC, Voyager Capital, Kick-Start Seed Fund, and WTB Financial Corporation.
Jim DuBois, former CIO of Microsoft, and Chris Growney, co-founder of Clearwater Analytics, are also believed to have participated in the round.
Founded in 2020 and based in Spokane, Washington, the fintech enables corporate finance teams with financial planning and risk management capabilities through delivering insights into treasury data with API-led software solutions.
Its latest round of funding will be applied to the development of both Entity4, its legal entity management solution, and Cash4, its solution for global cash management.
The start-up says the funding will enable it to “establish and strengthen strategic partnerships” and “accelerate the product roadmap and development of further solutions”.
“Treasurers and CFOs are experiencing a transformation in their contribution and influence. They now have access to more data, enhanced by improved visualisations, with faster processing capabilities, and greater foresight,” comments Steve Helmbrecht, CEO and president of Treasury4.
“By using modern digital technologies, these leaders will gain deeper insight into the direction of the firm, more time to strategically plan and collaborate, and a greater ability to guide the organisation.”
As part of its participation in the round, WestCap has instated its principal Sean Duncan and its partner Jeff Mullen, former treasurer at Airbnb, on the Treasury4 board. The wider WestCap will assist the fintech as design partner in developing and achieving its next phase of development.
