Products: A white label platform that automates FX hedging, liquidity management and cash flow forecasting (light TMS) features.
Overview: TreasurUp is a cloud-based platform that is amongst the first to deploy open APIs for FX and payment functionalities. It is used by corporates and licensed to banks on a white label basis. The aim is to enable banks to quickly offer small-and medium sized corporates online solutions for FX hedging, liquidity management, forecasting and working capital management, or what the firm calls ‘light TMS’ features.
Each new module is expected to interact within the bank’s environment, tying together the bank’s core platforms rather than replicate silos. Being white labelled, treasurers are offered a dashboard and UI that can reproduce the style of the bank provider. A mobile app version is available.
The firm has hired three former corporate treasurers to help equip bank sales teams with the appropriate knowledge to adopt a more consultative approach with clients. The firm also offers ongoing training to both users and bankers.
Owned 100% by Rabobank currently, the aim is to spin off in 2021, a process for which it is currently seeking CVC funding.
Clients: Over 5,000 corporate end-users that include mainly small-and medium sized companies and some large ones, via four bank clients so far: Rabobank, Nordea, OP Bank, KBC.
Active region(s): Currently active in the Netherlands, Finland, Belgium, Sweden, Norway, Denmark, Australia, New-Zealand and expanding globally to North and South America, Asia and Africa.
Partners: Spark Systems
Employees: 30+ FTEs in five countries.
Funding: Seeking CVC funding for a spin-out in Q1 2021.
Ownership: Currently 100% owned by Rabobank
Elevator pitch: “TreasurUp is a venture that helps banks renew their online Treasury offering. Based on interviews with well over 400 small and medium-sized corporates, we have developed a cloud-based foreign-exchange hedging front-end that banks can offer to their commercial banking clients in their own look and feel, and connected to their own price engines. We have a strong focus on ease-of-use and design, which is the main reason why both our banking clients and their end-users consistently rate the solutions with a 9 out of 10. Our web and mobile platforms are currently available in The Netherlands, Finland, Belgium, Sweden, Norway, Denmark, Australia and New-Zealand through Rabobank, Nordea, OP Bank and KBC. We are currently expanding our offering to include light TMS functionalities with liquidity management and cash flow forecasting options.”
TMI view: By offering light TMS functionality through a banking partner, with the look and feel of that bank maintained, TreasurUp has hit upon a new way of delivering connected treasury processes to the smaller-scale user. Expect the module list to expand as the firm spins-off from its current owners in 2021.
Verdict: Being entirely cloud-based and using open APIs makes this an interesting ‘light’ option for first-time TMS users or for firms with uncomplicated needs.