TreasurySpring, which delivers digital pipelines to connect cash rich firms and institutional borrowers, has scored a £2m funding round.
The investment was led by ETFS Capital, with participation also coming from MMC Ventures, and other existing backers. This investment round was over three-times oversubscribed; the company claims.
Having closed this investment, the FinTech has raised a total of £3.5m since 2017.
Following the burst of capital, the company will further the development of its core technology and expand its sales, technology and operations teams.
TreasurySpring was founded in 2016 with the goal of building new digital pipelines which connect cash-rich firms to institution borrowers from the sovereign, bank and corporate sectors and unlock the multi-trillion dollar wholesale money markets, it claims.
The company offers a fixed-term fund (FTF) platform which enables all large cash balance holders’ access to government, secured bank, and corporate assets through a digital platform which needs no additional infrastructure or cost.
ESO Capital managing partner Alex Schmid said, “We were the first external investor in TreasurySpring because we saw the huge opportunity that Kevin and the team had identified and strongly believed in their ability to deliver on their vision.
“Over the last two years they have achieved everything that they set out to do and more, so we were very comfortable following on from our initial investment for a second time. As a client of the platform, we have seen first-hand the value that it can bring in reducing the risk and simultaneously increasing the returns that we earn on our surplus cash.”
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