Treasury Intelligence Solutions (TIS), a cloud platform for handling corporate payments, has secured $20m investment in a funding round led by Aquiline Technology Growth.
The fundraising also included participation from existing backer 83North.
Go deeper with GlobalData
As part of the deal, Aquiline’s Michael Cichowski will gain a seat on the TIS board.
Cichowski stated: “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.”
Using the fresh capital, TIS intends to ramp up product development and scale operations in Europe and the US to serve global demand.
Commenting on the infusion, TIS CEO and co-founder Jörg Wiemer said: “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.”
The client base of TIS includes Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN.
The companies leverage the technology of TIS to analyse payment flows.
