MMC backs fintech company, TreasurySpring, in £2 million round
We’re very pleased to announce our support of TreasurySpring, the fintech company unlocking multi-trillion dollar short-term funding markets.
We invested alongside ETFS Capital in a £2 million round. The company has now raised over £3.5m since its first external capital injection in November 2017.
The firm was co-founded in 2016 by long-term business partners Kevin Cook (CEO), Matthew Longhurst (COO) and James Skillen (CTO) to unlock the multi-trillion dollar wholesale 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.
TreasurySpring launched its digital Fixed-Term Fund (FTF) portal in July 2019, following a year of rigorous beta testing. It has already issued more than $600m of FTFs to clients from multiple sectors.
Kevin Cook, co-founder and CEO, TreasurySpring, said:
“We are delighted to welcome our new investors ETFS Capital and MMC Ventures. Their capital injections, together with follow-on investment from ESO Capital and the funds that we have raised from more than 40 senior financial markets professionals over the last two years put us in really strong position to accelerate our growth by further building our team, our public presence and our product offering. We are grateful for the financial and non-financial support from all of our investors and are excited about what we can achieve with the proceeds of this funding over the next couple of years."
See more on the funding announcement via Finextra or via the TreasurySpring website.