To continue its fast international expansion, TIS (Treasury Intelligence Solutions) notched $20 million in additional financing led by Aquiline Technology Growth. The funding round for the corporate payments and cash flow management cloud platform also included participation from 83North, an existing investor, according to an announcement.
TIS CEO and Co-Founder Jörg Wiemer said in the announcement, “We are proud to have Aquiline on board alongside our existing investors. This investment will help accelerate our growth. More than ever, companies who operate globally need to be able to rely on solutions that support their business-critical payment processes.”
Wiemer continued, “Thanks to the growing number of corporates, banks and service providers already using our cloud platform, TIS will further strengthen market leadership while leveraging sustainable competitiveness in combination with increasing network effects.”
The firm intends to utilize the new funds to keep speeding up product development and to grow U.S. as well as European operations to satisfy expanding global demand. It noted that many organizations with the inclusion of Hugo Boss, Adecco Group and Bertelsmann already utilize TIS.
TIS will also welcome Aquiline’s Michael Cichowski to its board as part of the funding. Cichowski said, “TIS addresses a large, important market that is ripe for digital transformation. I look forward to working with the management team and board as they continue on their growth trajectory.”
In separate news, Treasury Prime had raised $9 million in a Series A funding round to connect banks with FinTech customers per news earlier in May. Amias Gerety of QED Investors led the round, with participation by SaaStr’s Jason Lemkin and NYCA Partners’ Hans Morris. The funding builds on the company’s previous $2.5 million seed round.
Treasury Prime, for its part, has an application programming interface (API) that allows banks to provide a revamped interface to legacy backend technologies. Banks can then link with modern financial technology customers as a result.