26th Jun 2023

TreasurySpring raises $29 million

TreasurySpring has raised $29 million in Series B. MMC first backed the team in 2019, and was proud to participate in its latest round

TreasurySpring's investment platform helping firms of all sizes unlock and protect the true value of their cash assets.

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. This challenge is especially urgent in the wake of rising interest rates and with the dangers of unsecured deposits having been brought into sharp focus by the recent collapses of SVB and Credit Suisse. Thanks to its seamless, secure solution, demand for the TreasurySpring platform has accelerated, with over 100 clients currently in the onboarding process, adding to the 250+ institutional clients that are already signed up.

TreasurySpring’s intuitive solution makes it easy for companies – from FTSE 100 corporations and leading multinationals to Series A startups, scale-ups and private charities – to place cash assets in a secure and flexible platform. Designed to help companies maximise returns whilst minimising risk, the platform gives access to investment capabilities and diversification that have historically been reserved for the world’s largest financial institutions.

There has been such demand for its services that TreasurySpring grew more than 7x in the last 12 months and total issuance through its platform now stands at more than $50bn.

“We have been growing the business rapidly for the last five years and are very well-placed to capitalise on current market dynamics. ” Kevin Cook, Co-Founder and CEO, TreasurySpring

The expertise to transform an unloved area of finance

TreasurySpring is tapping into the vastly underserved cash market, a multi-trillion dollar industry which has to date been ignored by the fintech boom. This is, in part, due to the complexity, barriers to entry and lack of knowledge about money markets and their potential. The TreasurySpring founding team, Kevin Cook (CEO), Matthew Longhurst (COO) and James Skillen (CTO), with their decades of experience built up across hedge funds, asset management and investment consulting, have the skills and vision to transform this sector for the better.

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, with only the largest corporations and banks having the teams, expertise and infrastructure necessary to access a better, broader range of cash investment options. 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 such as Goldman Sachs, Barclays and Societe Generale. 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.

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 with plans to grow its headcount by 50% in the next 12 months, further develop its products and services, and accelerate international expansion.

Newsletter Sign Up

Sign up for latest news