Fixed-term-funds (FTFs) have historically been a bank-to-bank sector. FTF products permit for investing in some of the most powerful resources such as, UK Government bonds, US Government bonds and highly-rated corporations. They allow holders of considerable amounts of money (such as charities, personal funds, family offices etc) to reduce and increase their risk, but also increasing returns.
TreasurySpring is a fintech startup that is aiming to opening up access to this region of financial markets, by creating a Fixed-Term Fund platform. It has now raised a $10 million Series A investment round co-led from MMC Ventures and Anthemis Group. Existing investors, including ETFS Capital, participated, taking the total its raised to $15 million.
TreasurySpring says its FTF platform gives holders of big cash balances online access to a menu of proprietary money investments on a daily basis. This gives them access to an asset type that’s generally only available to major financial institutions.
Founded in 2016 from Kevin Cook (CEO), Matthew Longhurst and James Skillen, Cook said in a statement:”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.”
Given the present low and negative interest rates and an uncertain international financial prognosis, TreasurySpring says its stage is likely to appeal as an alternative to traditional bank deposits