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TreasurySpring raises $29m

TreasurySpring raises $29m

TreasurySpring, the London-based investment platform that helps firms unlock and protect the value of their cash assets, has raised $29 million in a Series B funding round led by Balderton Capital.

Mubadala Capital joined the round, alongside previous investors ETFS Capital, MMC Ventures and Anthemis Group.

Founded in 2017, TreasurySpring enables firms of all sizes to place cash assets in platform that helps them maximise returns whilst minimising risk.

Users get 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 provide standardised, regulated, access to an ever-expanding universe of cash-investment options.

With rising interest rates and the risks of unsecured deposits having been brought into sharp focus by the recent collapses of SVB and Credit Suisse, TreasurySpring says it has seen a surge in demand that has seen it grow more than seven times in the last year, with total issuance through its platform now standing at more than $50 billion.

The new funding will be used to add to the product, sales, marketing and tech teams with plans to grow headcount by 50% in the next 12 months, further develop its products and services, and accelerate international expansion.

Kevin Cook, CEO, TreasurySpring, says: “For too long, the importance of cash has been overlooked by many operating businesses and investors alike. As rates have begun to rise across the globe and crises have once again started to permeate the banking sector, companies of all sizes have woken up to the benefits of diversification, security and attractive risk-adjusted returns.

“We have been growing the business rapidly for the last 5 years and are very well-placed to capitalise on current market dynamics.”

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