London-based fintech startup Round Treasury, which develops a treasury management platform that helps startups manage cash and maximize returns, has secured £1.6 million in an oversubscribed pre-seed funding round led by Passion Capital, with support from Tiny Supercomputer Investment Company, Notion Capital, Ascension, Samos Investments, and Entrepreneur First.
- Founded in 2023 by Pac O'Shea and Hayyaan Ahmad, Round Treasury develops an all-in-one treasury management platform tailored for startups to minimize risk and maximize returns on excess cash.
- The platform allows users to deposit funds across 30 different UK banks through a single account, earning up to 5% interest and benefiting from enhanced FSCS protection.
"We've helped our customers increase their runway by months with millions of pounds added on to their bottom line, we've saved them hours every week in manual reporting and reconciliation, we've helped them maximize their FSCS protection on their cash," Co-founder at Round Treasury, Hayyaan Ahmad, stated.
Details of the deal
- The pre-seed round was led by Passion Capital, a London-based venture capital firm that supports digital media and technology companies across Europe.
- The round saw participation from London-based VC Tiny Supercomputer Investment Company, Notion Capital, a London-based VC that invests in European SaaS and enterprise tech, the UK seed fund Ascension, Samos Investments, Entrepreneur First, and 30 business angels, also joined the round.
- The funds raised will allow Round Treasury to grow its team, improve its product, and expand its services across Europe.
