TreasurUp, a graduate of Rabobank's Moonshot innovation campaign, has sealed a contract with Belgium's KBC for the licensing of its white-label treasury platform.
TreasurUp offers online foreign exchange hedging and is developing new modules on foreign exchange payments and liquidity management and assert base finance.
Patrick Roppe, general manager financial markets KBC Group, says: "We see great value in the platform’s ability to apply hedging strategies which our corporate clients can benefit from. If the launch proves successful in Belgium, the partnership may grow into international expansion within KBC Group."
KBC is the third major bank to work with TreasurUp, following successful partnerships with Rabobank and the Finnish OP Financial Group. The company first emerged from Rabobank's Moonshot accelerator in 2016.
Niels van Daatselaar, CEO of TreasurUp, comments: "We are about to spin out from the bank. As an independent entity we believe we can even move faster, which is necessary in this market."