Walldorf, Germany, May 29, 2020 --(PR.com
)-- TIS (Treasury Intelligence Solutions), a leading cloud platform for managing corporate payments and cash flows, today announced it has raised $20 million in additional financing led by Aquiline Technology Growth, an early- and growth-stage fund managed by Aquiline Capital Partners. The round also included participation from existing investor 83North. Aquiline joins previous investors 83North, Target Partners and Zobito.
The company plans to use the new funding to further accelerate product development and to scale operations in Europe and in the US, in order to meet growing international demand. Many globally recognized organizations, including Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN, already use TIS to standardize and analyze payment flows and to obtain liquidity overview throughout their organizations.
Jörg Wiemer, CEO and co-founder of TIS: “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. 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.”
“We have significant experience investing in modern payments businesses and believe that TIS is well positioned to meet the growing demand for innovation from Chief Financial Officers and Treasurers,” Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners stated.
Additionally, as part of the investment, TIS will welcome Michael Cichowski of Aquiline to its Board of Directors. Mr. Cichowski added, "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.”
TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of “Europe’s Fastest Growing Companies” for 2019 and 2020. Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, Hugo Boss, Fresenius, Fugro, Lanxess, OSRAM and QIAGEN. More than 25% of DAX companies are already TIS customers.
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About Aquiline Technology Growth:
Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit: www.atgvc.com.
83North is a global venture capital firm with over $1B million under management. The fund invests in exceptional European and Israeli entrepreneurs. 83North is also deeply rooted in the main US tech hubs, with over half of its portfolio companies having operations in the US. The firm has backed more than 50 companies including Ebury (51% acquired by Santander), Hybris (acquired by SAP), iZettle,(acquired by Paypal), SocialPoint (acquired by Take2), Just Eat (London IPO), Celonis, Payoneer, Mirakl, Marqeta, Via and Vast. Visit www.83north.com and follow us on Twitter @83NorthVC