TreasurySpring

TreasurySpring operates a financial technology platform that provides access to the wholesale money markets for institutional clients. Founded in London in 2016 by Kevin Cook, Matthew Longhurst, and James Skillen, the company was established to modernize cash investment infrastructure. The founders' collective experience in hedge funds, fixed income, and asset management, particularly during the 2008 financial crisis, highlighted the need for more robust and accessible solutions for corporate cash management. The firm's core offering is its regulated digital platform, which allows companies to invest excess cash into a variety of short-term, fixed-income products. Clients include a wide range of organizations, from FTSE 100 corporations and multinationals to startups, charities, and fund managers. For these entities, the platform offers a way to diversify holdings, manage risk, and increase returns on cash balances that might otherwise be held in low-yield bank accounts. The platform also serves institutional borrowers, such as governments, banks, and investment-grade corporations, by providing them with a flexible, low-cost source of funding from a diverse network of non-bank investors. The business model appears to be based on transactional fees linked to the volume and value of investments facilitated through the platform. TreasurySpring's main product is the Fixed-Term Fund (FTF), a financial instrument it designed and first issued in 2018. FTFs function similarly to term deposits but provide direct, single-name exposure to high-quality issuers like governments or investment-grade banks and corporations for a set period, typically from one week to one year. The platform offers over 600 such products in multiple currencies, including secured options backed by collateral and unsecured options. This structure provides transparency and avoids the maturity transformation and co-mingling of assets common in traditional money market funds, thereby reducing certain risks for the investor. The company has raised approximately $43.5 million in funding, including a $29 million Series B round in June 2023 to fuel product development and international expansion. Keywords: cash investment platform, Fixed-Term Funds, FTFs, money markets, corporate treasury, cash management, institutional finance, short-term funding, fixed income, fintech, asset management, investment grade assets, government securities, secured bank assets, risk diversification, wholesale funding, digital investment, financial technology, corporate finance, liquidity management