TreasurySpring raises $10 million in Series A investment round

Run by GC 30 to Shape the Future finalist, TreasurySpring raises capital to support the growth of the team as demand for its fixed-term fund platform increases.

By Wesley Bray

London-based FinTech, TreasurySpring, has announced the closing of its latest capital raise, securing more than $10 million of new investment in a round that was co-led by MMC Ventures and Anthemis Group.

Kevin Cook, co-founder and CEO of TreasurySpring, was recognised by Global Custodian as one of 30 People to Shape the Future back in 2019. Cook, alongside long-term business partners Matthew Longhurst and James Skillen, founded the company in 2016.

Since its first external capital injection in November 2017, TreasurySpring has now raised more the $15 million.

TreasurySpring’s fixed-term fund platform is said to allow holders of large cash balances to minimise risk and maximise returns, providing simple, digital access to a diverse menu of proprietary cash investments.

Through a single online onboarding, clients can choose from over 120 investment options daily, offering exposure to asset classes that have typically only been accessible to major financial institutions.

TreasurySpring launched its fixed-term fund platform in September 2019 and has already issued more than $9 billion of FTF’s to an increasing institutional client base including FTSE 100 and other listed companies, IGO’s as well as leading fund managers.

“Following a break-out 12 months in which we increased AUM by 10x, we wanted to bring in the best possible investment partners to support our ambitious growth plans. We have long admired both Anthemis Group and MMC, so I am delighted that they co-led the round and we are excited to work with Sean, Ollie and their respective teams, as we move into the next phase of our journey to redefine cash investment and front-office treasury,” said Cook.

With a specific focus on sales and marketing, the financing round will support the growth of the team. The company has already appointed Oscar Coyle as a sales director, who will join from HSBC later this month.

“With its ambitious and mission-driven team, TreaurySpring is opening the traditional money market industry to a whole new pool of participants. As investors, we believe that the platform’s fund products will supply investors with new and more versatile methods of diversification,” said Yann Ranchere, partner at Anthemis Group.

Along with the continued investment in the platform’s core technology and operations, funds will also be used to accelerate expansion across sectors and geographies.

“Having worked with the team at TreasurySpring for the last two years, we have absolute confidence in their ability to deliver on their unique vision to level the playing field in cash investing and short-term funding, through a platform that not only brings value to its clients and issuers but also enhances the diversification and systemic stability of the money markets as a whole,” said Oliver Richards, partner at MMC Ventures.