London-based fintech TreasurySpring has raised £2 million in a funding round led by ETFS Capital along with MMC Ventures and existing ventures. This brings the total amount raised £3.5 million since its first investment in 2017. The funds raised will be utilized to develop its platform’s core technology, expand sales, technology and operations teams.

Graham Tuckwell, Chairman, ETFS Capital said, “We see many analogies between what TreasurySpring is building in the cash management space and the very successful business that we built over the last 15 years in the market of the exchange-traded product. They have developed a simple, unique and powerful way to offer access to a huge, desirable segment of the market that is currently unavailable to most institutions. The ETFS Capital team is looking forward to supporting the team with more than just capital as they continue to grow their business.”

Established in 2016, TreasurySpring was created to provide new digital pipelines to connect cash-rich firms to institutional borrowers from the sovereign, bank and corporate sectors. Its FTF platform provides low-cost access to new short term funding sources.

Kevin Cook, Co-founder and CEO, TreasurySpring, said, “We are thrilled to welcome our new investors ETFS Capital and MMC Ventures. Their capital injections, together with the funds that we have raised from more than 40 senior financial markets professionals over the last two years, put us in a really strong position to accelerate our growth by further building our team, our public presence and our product offering.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence