TIS (Treasury Intelligence Solutions), a leading cloud platform for managing corporate payments and cash flows, today announced it has raised $20 million in additional financing led by Aquiline Technology Growth, an early- and growth-stage fund managed by Aquiline Capital Partners.
The round also included participation from existing investor 83North. Aquiline joins previous investors 83North, Target Partners and Zobito.
The company plans to use the new funding to further accelerate product development and to scale operations in Europe and in the US, in order to meet growing international demand. Many globally recognized organizations, including Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN, already use TIS to standardize and analyze payment flows and to obtain liquidity overview throughout their organizations.
Jörg Wiemer, CEO and co-founder of TIS: “We are proud to have Aquiline on board alongside our existing investors. This investment will help accelerate our growth. More than ever, companies who operate globally need to be able to rely on solutions that support their business-critical payment processes. Thanks to the growing number of corporates, banks and service providers already using our cloud platform, TIS will further strengthen market leadership while leveraging sustainable competitiveness in combination with increasing network effects.”
“We have significant experience investing in modern payments businesses and believe that TIS is well positioned to meet the growing demand for innovation from Chief Financial Officers and Treasurers,” Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners stated.
Additionally, as part of the investment, TIS will welcome Michael Cichowski of Aquiline to its Board of Directors. Mr. Cichowski added, “TIS addresses a large, important market that is ripe for digital transformation. I look forward to working with the management team and board as they continue on their growth trajectory.”