Round Treasury, a London, UK-based provider of a banking and treasury platform specifically designed to make life easier for founders and CFOs, raised $2.1M in Pre-Seed funding.
The round was led by Passion Capital, with participation from Tiny VC, Ascension, Samos Investments and Entrepreneur First. Other investors included Darren Westlake (founder of Crowdcube), Simon Taylor (11FS), Pranav Sood (GM of Airwallex), and former executives from Stripe and Starling. Round’s early customers also participated as angel investors.
The company intends to use the funds to grow the team, refine the product, and expand services across Europe.
Led by CEO Pac O’Shea, and cofounder Hayyaan Ahmad, Round provides banking and treasury services for startups and for founders and CFOs, which integrate essential financial tools like multibanking, treasury services, and diversified savings accounts into one platform.
At the core of its offering there is aĀ treasury solutionĀ that helps startups extend their runway, grow their teams, by earning up to 5% yield with next-day liquidity through government security backed Blackrock money market funds. The company also offers aĀ multibankingĀ feature, which allows businesses to manage all their existing bank accounts in one place. Round also offersĀ Vault Savings Accounts, which give businesses access to hundreds of savings accounts across UK banks, without needing to open individual accounts. This setup enhances FSCS protection, ensuring that deposits are spread across multiple banks and safeguarded against risk.
FinSMEs
08/10/2024