B.A.S secures funding to expand into the US market with TreasuryXpress
18 May 2015 | 2002 views | 0
B.A.S a leading provider in Cloud-Based Treasury Management Solutions, is pleased to announce a new round of financing funded by “Impact Fund” an international focused venture capital firm. Impact Fund will join Sigma Management and MEVP to support B.A.S expansion.
“The new funding will be used to fund our major expansion in the USA with our new vehicle under TreasuryXpress, (TX)” Anis Rahal, President of B.A.S went on to say “B.A.S will adopt the TX branding across the global organization to provide what I believe to be the best TMS system on a global platform for our clients ”
Taking advantages from B.A.S expertise, TX is highly specialized in Cloud-Based Treasury Management Solutions. It allow decision makers to fully monitor and audit their cash in order to better manage their cash flow. Since its inception, B.A.S has distinguished itself by applying its innovation in this conservative area. Tom Leitch, VP business development commented on the expansion “The new TMS we are launching in the US breaks the mold! We are a truly a cloud based system so set up takes a few hours with no implementation fees, fully customizable interface, automatic reports delivered and our updates are free to all users. We are bringing the TMS market into the 21st century.
Walid Hanna, “IMPACT Fund” by MEVP, Managing Partner commented: “B.A.S real time solutions offer treasurers the ability to control their cash. Beyond its innovative features, the offering of B.A.S is characterized by a high quality of technology, service and customer care. These are the qualities which US cash managers appreciate. “Walid. Hanna added, “During crisis times, companies need to better manage their cash flow. These reasons are what compelled us to invest and fund the deployment of B.A.S in the USA. “
For B.A.S, the investor’s profile was also crucial. Anis Rahal went on to say While all the other players are heading to GCC and Asia we at B.A.S strongly believe that until today there still isn’t a real Cloud-Based TMS in the US market place, the treasurers are paying huge sums of money for these services which is wrong. Technology allows companies to streamline the process but some providers cant with legacy systems so therefore must charge excessively for it. TX isn’t restricted by historical problems so we have designed a TMS that’s user friendly, customizable and priced as a cloud based system should be.