Crowd Data Systems secures £850k seed investment led by Triple Point Ventures to expand operations.
The seed round was led by Triple Point Ventures with backing from Portfolio Ventures and angel investors.
Crowd Data Systems provides a business-to-business software platform that connects treasury services through open banking and application programming interfaces. The cloud-based system automates manual processes to help corporate treasurers make data-driven decisions.
London-based Crowd Data Systems has secured £850k in seed funding led by Triple Point Ventures. The round also drew participation from Portfolio Ventures and several angel investors. The company intends to direct the capital towards building out its sales, marketing and customer success functions.
Founded by Kelly Scammell and Steve Whalley, the business offers a cloud platform designed to replace legacy enterprise fintech systems. The technology automates manual administrative tasks for corporate treasury teams across more than 30 countries.
From the founder
"We are excited to embark on the next stage of our journey with new funding. With this financial backing, we can expand our operations, build awareness about our product and develop new opportunities. Genuine evolution within this sector is long overdue. Historically, the treasury systems market has been focused on larger companies but now outdated legacy technology and a lack of innovation are limiting its potential. CDS is revolutionising the industry to remove technical complexity which will enable us to bring the benefits of modern treasury apps to a wider global market facing similar issues."
Kelly Scammell
CEO at Crowd Data Systems
Investor perspective
"CDS has created a fundamentally different approach to corporate treasury, disrupting legacy systems which take a significant amount of time and resources to run. Kelly and Steve are accomplished founders with deep sector expertise and the team has built a platform which offers data-driven insights and frees up corporate treasurers to create value rather than being bogged down by manual processes. This solution has huge scaling potential and we’re looking forward to supporting CDS in this next exciting stage of growth."
Seb Wallace
Investment Director, Triple Point Ventures
Use of funds
- 01Invest in sales and marketing
Investors
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About the company
Crowd Data Systems
Crowd Data Systems provides a software platform that connects treasury services for corporate teams.