Series B26 June 2023

TreasurySpring secures £22.8m Series B funding led by Balderton Capital

Balderton Capital led the Series B round with participation from Mubadala Capital and existing investors.

£22.8MSeries B

TreasurySpring operates a cash investment platform that helps organisations manage and protect their cash assets. The firm gives clients access to institutional grade products to diversify holdings and minimise banking risk.

London fintech TreasurySpring has secured £22.8m in Series B funding led by Balderton Capital. The round also featured participation from Mubadala Capital alongside returning backers including ETFS Capital, MMC Ventures and Anthemis Group. The capital injection will be deployed to expand the company product, sales, marketing and technical teams, develop new offerings, and drive international growth.

The business has experienced rapid scaling amid growing corporate focus on cash security and deposit diversification following recent banking sector turbulence. Its platform provides clients ranging from multinationals to high growth technology firms with access to hundreds of standardised cash investment products across multiple currencies.

From the founder

"For too long, the importance of cash has been overlooked by many operating businesses and investors alike. 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. We have been growing the business rapidly for the last 5 years and are very well-placed to capitalise on current market dynamics. We’re delighted that Balderton is leading our Series B round – they understand our world deeply and have all of the experience necessary to support us on our journey to becoming a global leader in institutional cash investment."

Kevin Cook

CEO at TreasurySpring

Investor perspective

"There is a huge opportunity to radically transform cash investment for all businesses, but it remains entirely overlooked. 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."

Rana Yared

General Partner, Balderton Capital