TreasurySpring secures $10 million in Series A funding round
By Megha Bhattacharya
TreasurySpring, the London-based FinTech that operates the world’s first Fixed-Term Fund platform announced the closing of its latest capital raise, securing more than $10 million of new investment in a round that was co-led by MMC Ventures and Anthemis Group, with participation from existing investors, including ETFS Capital. The company has now raised more than $15 million since its first external capital injection in November 2017.
Kevin Cook, Co-founder and CEO said, “Following a break-out 12 months in which we increased AUM by 10x, we wanted to bring in the best possible investment partners to support our ambitious growth plans. We have long admired both Anthemis Group and MMC, so I am delighted that they co-led the round and we are excited to work with Sean, Ollie and their respective teams, as we move into the next phase of our journey to redefine cash investment and front-office treasury.”
TreasurySpring’s FTF platform enables all holders of large cash balances to minimise risk and maximise returns, providing simple, digital access to a diverse menu of proprietary cash investments. Through a single online onboarding, clients can already choose from 120+ investment options on a daily basis, offering them unique exposure to asset classes that have historically only been available to major financial institutions.
Yann Ranchere, Partner at Anthemis Group said, “With its ambitious and mission-driven team, TreaurySpring is opening the traditional money market industry to a whole new pool of participants. As investors, we believe that the platform’s fund products will supply investors with new and more versatile methods of diversification.”
While Oliver Richards, Partner at MMC Ventures added, “Having worked with the team at TreasurySpring for the last two years, we have absolute confidence in their ability to deliver on their unique vision to level the playing field in cash investing and short-term funding, through a platform that not only brings value to its clients and issuers but also enhances the diversification and systemic stability of the money markets as a whole.”
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