London-based fintech TreasurySpring, an investment platform for enterprises to diversify their assets, has secured £23m in funding.
Founded in 2017, TreasurySpring is aimed at firms that have secured funds and are looking to put excess cash towards investment opportunities.
The company describes its service as a secure and flexible platform that reduces the risk of traditional investing.
“For too long, the importance of cash has been overlooked by many operating businesses and investors alike,” said Kevin Cook, co-founder and CEO of TreasurySpring.
“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.”
The Series B round for TreasurySpring was led by Balderton Capital and featured participation from Mubadala Capital, the Abu Dhabi sovereign fund, along with ETFS Capital, MMC Ventures and Anthemis Group.
“There is a huge opportunity to radically transform cash investment for all businesses, but it remains entirely overlooked,” said Rana Yared, general partner at Balderton Capital and newly appointed board member of TreasurySpring.
“The TreasurySpring team are true experts and have built an innovative, elegant solution to make cash investing work for all businesses, regardless of size and structure.”
According to the company, the new funds – first reported by Sifted – have brought the total raised to £33m.
TreasurySpring previously raised $10m in a Series A funding round in June 2021.
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