TreasurySpring raises $10m for fixed-term fund platform
TreasurySpring, the London-based operator of a fixed-term fund platform, has raised $10 million in a round led by MMC Ventures and Anthemis Group.
Through a single online onboarding, clients can choose from more than 120 investment options on a daily basis, offering them unique exposure to asset classes that have historically only been available to major financial institutions.
TreasurySpring says that in the current climate of ultra-low and negative interest rates, coupled with an uncertain credit outlook, an ever-increasing number of institutional clients are looking for alternatives to traditional bank deposits and money market funds.
Having publicly launched its platform in September 2019, the firm has already issued more than $9 billion of FTFs to a fast-growing institutional client-base including FTSE 100 and other listed companies, IGO’s, fund managers, large private companies, charities and family offices.
Having recently hired HSBC’s Oscar Coyle sales director, the new money will be used to bring in more people in sales and marketing.
Kevin Cook, CEO, TreasurySpring, says: “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.”