Round Treasury Secures £1.6 Million Pre-Seed Funding to Revolutionize Treasury Management for Startups

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Investment Led by Passion Capital Will Fuel Expansion Across Europe and Product Development

London, 8 October 2024Round Treasury, the innovative all-in-one banking and treasury platform designed for founders and CFOs, has successfully closed a £1.6 million ($2.1 million) pre-seed funding round. The round was led by Passion Capital, known for its early investments in fintech powerhouses such as Monzo, Tide, and GoCardless, with additional participation from Tiny VC, Ascension, Samos Investments, and Entrepreneur First. Key industry figures, including Darren Westlake (Crowdcube founder), Simon Taylor (11FS), Pranav Sood (Airwallex GM), and former executives from Stripe and Starling, also joined as angel investors. Notably, several of Round’s early users also contributed to the round, underscoring the platform’s value to its customers.

Round Treasury addresses a significant gap in financial management for small and medium-sized businesses (SMBs), where founders and CFOs often struggle with outdated ERP systems or manual cash tracking on spreadsheets. Without a modern, flexible treasury solution, businesses are unable to optimize liquidity or gain full transparency over their finances. The collapse of Silicon Valley Bank in 2023 further highlighted the need for more secure and efficient cash management, pushing treasury practices into the spotlight.

Pac O’Shea, Round’s CEO and Co-Founder, developed the platform with Co-Founder Hayyaan Ahmad after identifying the shortcomings of existing financial tools. O’Shea’s experience in fintech and venture capital showed that SMBs required simpler and more intuitive tools for treasury management. Round Treasury delivers a solution designed to protect, manage, and grow company funds, empowering founders and CFOs with a seamless, unified approach to finance.

The platform consolidates banking, treasury, and cash management in one place, making it easy for users to navigate their financial operations. Its core treasury solution helps startups extend their runway and earn up to 5% yield with next-day liquidity through government-backed BlackRock money market funds. The multibanking feature offers a centralized view of all business accounts, while the Vault Savings Accounts spread deposits across UK banks, enhancing protection through the Financial Services Compensation Scheme (FSCS).

With this new funding, Round Treasury will expand its team, refine its product, and prepare to scale its services across Europe, aiming to bring simplicity and security to a wider range of high-growth businesses.

Quotes from Founders and Investors
“Managing finances should not feel like a juggling act for founders. We’re building a product that saves time, protects funds, and helps businesses grow, all with minimal effort. Round’s mission is to make treasury management straightforward and effective, so founders can focus on what matters most—growing their businesses,” said Pac O’Shea, CEO and Co-Founder of Round.

“We want to eliminate the complexity from treasury management. By automating tasks and providing complete cash visibility, we’re giving founders the tools they need to maximize their financial potential without the usual hassle,” added Hayyaan Ahmad, Co-Founder of Round.

“Round is simplifying treasury management in the same way Stripe and GoCardless transformed payments. Founders need solutions that offer clarity, control, and growth. We believe Round is reshaping the financial stack for the next generation of startups, and we’re thrilled to support their vision,” said Eileen Burbidge, Partner at Passion Capital.

About Round
Round Treasury is reinventing banking and treasury services for startups, offering a comprehensive platform for founders and CFOs. By combining multibanking, treasury services, and diversified savings accounts, Round delivers a seamless, user-friendly solution that helps businesses manage their cash effortlessly and securely.

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