TreasurySpring raises $29 m to transform cash investment for business

By Gloria Methri

London-based cash investment platform TreasurySpring has raised $29 million in Series B funding led by Balderton Capital. Mubadala Capital also participated in the round, alongside previous investors ETFS Capital, MMC Ventures, and Anthemis Group.

Founded in 2017, TreasurySpring addresses the growing need for companies of all sizes to diversify their cash deposits, access high-quality investments, and minimise their banking risk.

TreasurySpring’s platform gives access to investment capabilities and diversification that have historically been reserved for the world’s largest financial institutions.

Currently, companies typically keep cash in bank deposits which are only secure up to a maximum of £85,000 in the UK and $250,000 in the US. TreasurySpring is changing this: through the platform companies of all sizes can quickly gain access to over 600 standardised cash investment products, across seven different currencies and three categories: governments, corporates, and banks.

The platform’s Fixed-Term-Funds (FTFs) provide standardised, regulated, access to an ever-expanding universe of cash-investment options, ensuring flexibility, safety, and diversification for clients. The FinTech has built the infrastructure to enable companies to buy the FTFs that suit their preference, from one week up to 13 months.

TreasurySpring is on a mission to offer the power of large-scale treasury management to all businesses. The $29 million Series B, which brings the total raised to $42 million, will be used to invest in TreasurySpring’s product, sales, marketing, and tech teams. The company plans to grow its headcount by 50% in the next 12 months, while further developing its products and services, and accelerating international expansion.

Kevin Cook, co-founder and CEO at TreasurySpring, said, “For too long, the importance of cash has been overlooked by many operating businesses and investors alike. As rates have begun to rise across the globe and crises have once again started to permeate the banking sector, companies of all sizes have woken up to the benefits of diversification, security, and attractive risk-adjusted returns. We are delighted that Balderton is leading our Series B round – they understand our world deeply and have all of the experience necessary to support us on our journey to becoming a global leader in institutional cash investment.”