TreasurySpring raises £2m to develop core technology
London-based fixed term funds fintech TreasurySpring has closed £2 million in an investment round led by ETFS Capital, with participation from MMC Ventures and existing investors.
TreasurySpring experienced three-times the original subscription it expected and can now confirm a total of more than £3.5 million since November 2017 when it had its first external capital injection.
In the last two years 40 senior financial market professionals have also invested in TreasurySpring
Funding will go towards the development of its core technology, alongside sales, technology and operation team’s expansion.
The three-year-old company launched its digital fixed-term fund (FTF) portal earlier this year, which enables all holders of large cash balances to reduce and diversify risk on those balances whilst increasing returns.
“Over the last two years it [TreasurySpring] has achieved everything that it set out to do and more, so we were very comfortable following on from our initial investment for a second time,” says ESO Capital’s managing partner, Alex Schmid.
He adds: “As a client of the platform, we have seen first-hand the value that it can bring in reducing the risk and simultaneously increasing the returns that we earn on our surplus cash.”
The fintech’s aim is 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”.
This investment round joins more than 40 senior financial market professionals who have injected cash into TreasurySpring over the last two years.
