London based fintech Round Treasury raises €1.9 pre-seed round
#RoundTreasury, a London-based all-in-one banking and treasury platform, has just secured a €1.9 million pre-seed funding round. The investment was led by Passion Capital, early backers of notable #fintech companies like Monzo Bank, Tide, and GoCardless. Additional participation came from Tiny VC, Ascension, Samos Investments, Entrepreneur First, and prominent fintech figures such as Darren Westlake (founder of Crowdcube), Simon Taylor of 11FS, Pranav Sood (GM of Airwallex), and former executives from Stripe and Starling. Impressively, several of Round's early customers also joined as angel investors.
Founded by Pac O'Shea (CEO) and Hayyaan Ahmad, Round Treasury aims to simplify treasury management for founders and CFOs of small and medium-sized businesses. Recognizing the challenges SMBs face with outdated ERP systems and cumbersome spreadsheets, the platform consolidates banking, treasury, and cash management into a single, user-friendly interface. This allows businesses to manage their finances effortlessly, extending their runway and focusing on growth.
A key feature of Round's offering is a treasury solution that enables startups to earn up to 5% yield with next-day liquidity through government-backed Blackrock money market funds. Additionally, their multibanking feature lets businesses manage all existing bank accounts in one place, providing a consolidated cash balance without the hassle of switching between multiple apps. The platform also offers Vault Savings Accounts, granting access to hundreds of savings accounts across UK banks and enhancing FSCS protection by diversifying deposits.
With the new funding, Round plans to expand its team, refine its product, and prepare to extend its services across Europe. Eileen Burbidge, Partner at Passion Capital, expressed her enthusiasm: "Round is doing for treasury management what Stripe and GoCardless did for payments—taking something complex and making it simple. We're excited to support their vision as they reshape the financial stack for the next generation of businesses."
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