London, 25, 2022: Crowd Data Systems (CDS), a B2B SaaS platform providing data-driven decision support to corporate treasury, secured an initial € 1 million round led by Triple stitch adventures, along with Portfolio Ventures and a number of angelic investors. This investment will enable the company to develop sales, marketing and customer success in order to meet its next phase of growth.
UK-based CDS seamlessly connects treasury services via API and open banking to enable treasurers to take on a more strategic role. In 2019, nearly 50% of all respondents to a Deloitte survey of global corporate treasuries they said they have inadequate technology to support their operations. While traditional solutions are antiquated business fintech systems, CDS offers a platform that relieves the pressure on corporate treasury teams by automating manual processes, freeing them to add real value without increasing technical administration and overheads.
CDS was co-founded by serial entrepreneurs Kelly Scammell and Steve Whalley, both of whom successfully founded and left businesses in the treasury management sector. Together, they built a cloud-based platform from the ground up to offer an integrated and continuously updated service that enables greater collaboration and improves efficiency and control over the corporate treasury management process. Users benefit from master data and global reports, synchronized across all customers, while each team retains control of their data.
The company now serves more than 90 companies operating in 32 different countries. Notable users include Flight Center, one of the top 10 travel companies globally; FTSE 250 automotive engineering company TI Fluid Systems; and the New Zealand-based treasury outsourcing firm ETOS.
Kelly Scammell, CEO, Crowd Data Systems, said: “We are excited to embark on the next phase of our journey with new funding. With this financial support, we can expand our operations, raise awareness about our product and develop new opportunities. Genuine evolution within this sector is long overdue. Historically, the treasury systems market has focused on larger companies, but now legacy technology and a lack of innovation are limiting its potential. CDS is revolutionizing the industry to remove the technical complexity that will allow us to bring the benefits of modern treasury apps to a larger global market that faces similar problems. “
Seb Wallace, Investment Director of Triple Point Ventures, said: “CDS has created a fundamentally different approach to corporate treasury, disrupting legacy systems that require a significant amount of time and resources to run. Kelly and Steve are skilled founders with deep industry experience, and the team has built a platform that delivers data-driven insights and enables corporate treasurers to create value rather than be bogged down by manual processes. This solution has tremendous scalability potential and we look forward to supporting CDS in this exciting next phase of growth. “
CDS is revolutionizing the treasury systems market with the world’s first connected cloud service for corporate treasury. Its cloud-based software platform seamlessly connects between banks, financial systems, trading platforms and industry benchmark data to provide an integrated ecosystem for treasury management, removing the technical barriers that inhibit a treasury’s potential. CDS’s mission is to enable all treasuries, regardless of size, to collaborate with financial operations, improve control in real time, and make better decisions for their companies. Find out more about www.crowddatasystems.com
About Triple Point Ventures
Triple Point Ventures is part of Triple Point, a purpose-oriented investment manager that creates investment opportunities to help address the company’s biggest challenges. Triple Point has been investing in early stage businesses for over 15 years and manages over £ 2.5 billion in assets. Our team of 150 investment professionals invested over £ 600 million in UK assets early on, including; LendInvest, Capital On Tap, Aly, Vyne, Contis, Credit Kudos and Quit Genius. Find out more about www.triplepoint.vc
Crowd Data Systems Secures Initial Investment of £ 850,000 Led by Triple Point Ventures – UK Technology Investment News
Source link Crowd Data Systems Secures Initial Investment of £ 850,000 Led by Triple Point Ventures – UK Technology Investment News