TIS (Treasury Intelligence Solutions), a cloud-based platform for managing payments and cashflows, has secured $20m in its funding round.
The capital injection was led by Acquiline Technology Growth, with additional support coming from previous TIS backer 83North.
With the close of the round, the company plans to deepen its product development and scale its operations in Europe and the US to meet rising demand.
The company, which is based in Germany, offers a cloud-based platform to support payments and cash management. Its services help with account, transaction and bank statement management.
Companies can also use the platform for sanction screening to meet compliance with SOC 1 and SOC 2 requirements.
Its clients include Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN.
TIS CEO and co-founder J?rg Wiemer said, ?We are proud to have Aquiline on board alongside our existing investors. This investment will help accelerate our growth. More than ever, companies who operate globally need to be able to rely on solutions that support their business-critical payment processes.
?Thanks to the growing number of corporates, banks and service providers already using our cloud platform, TIS will further strengthen market leadership while leveraging sustainable competitiveness in combination with increasing network effects.p>
In conjunction with the deal, Aquiline head of growth equity Michael Cichowski will join the TIS board of directors.
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