Citi Ventures invests in cash flow forecasting outfit Cashforce

Citi Ventures invests in cash flow forecasting outfit Cashforce

Citi Ventures has joined Amsterdam VC Inkef Capital in co-leading a EUR5 million round in cash forecasting and working capital vendor Cashforce.

Headquartered in Antwerp, Cashforce provides treasury managers with cash flow forecasting through ERP & TMS integration, using advanced analytics & machine learning.

As part of the investment, Citi intends to offer the platform as an added value service to its corporate treasury clients.

”There is an increasing appetite in corporate treasury for integrated decision support tools from their banks for the next investment, fund or hedge action going beyond what their existing systems can provide today," says Ron Chakravarti, Citi managing director, global head - treasury advisory. "As a prerequisite step to delivering such solutions from Citi, we look forward to collaborating with Cashforce to significantly improve our clients’ ability to aggregate disparate data sets across their enterprise to help better manage their working capital and more accurately predict through algorithmic techniques their potential liquidity exposure."

Cashforce says it will use the capital injection to establish a wider presence in overseas markets. New offices have been opened in London, Ghent and Copenhagen in 2019, with others in Zurich and Singapore to follow soon, the firm says.

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