TreasurySpring Raises £2m to Fuel Growth
Published: September 16, 2019
London, UK - TreasurySpring, the London-based financial technology company today announced the closing of its latest capital raise, securing £2m of investment in a round that was led by ETFS Capital, with participation from MMC Ventures and existing investors. The round was more than three times oversubscribed and the company has now raised more than £3.5m since its first external capital injection in November 2017.
TreasurySpring was voted one of the top 3 fintech startups in Europe at the Money 20/20 conference in June 2019, before publicly launching its digital Fixed-Term Fund (FTF) portal in July, following a year of rigorous beta testing.
The firm was co-founded in 2016 by long-term business partners Kevin Cook (CEO), Matthew Longhurst (COO) and James Skillen (CTO) to unlock money markets by providing new digital pipelines to connect cash-rich firms to institutional borrowers from the sovereign, bank and corporate sectors.
FTFs enable all holders of large cash balances, from corporates to charities, private funds to insurance companies, family offices to private banks and beyond, to reduce and diversify risk on those balances, whilst simultaneously increasing returns. For investment-grade firms seeking financing, TreasurySpring’s FTF platform provides flexible, low-cost access to a diverse universe of new short-term funding sources.
Proceeds from the financing round will be invested in the development of the platform’s core technology and the expansion of TreasurySpring’s sales, technology and operations teams to meet the growing demand for FTFs.