Crowd Data Systems, co-founded in 2016 by Kelly Scammell and Steve Whalley, has raised its first €1m in a seed round led by Triple Point Ventures and Portfolio Ventures.
The treasury technology company targets mid-sized corporations with a cloud-based system that connects across banks, finance systems, dealing platforms and industry reference data. It now counts more than 90 businesses as clients, operating across 32 different countries. They include Flight Centre, TI Fluid Systems; and New Zealand-based treasury outsourcing company ETOS.
Scamell said the team were, 'Excited to embark on the next stage of our journey. Historically, the treasury systems market has been focused on larger companies but now outdated legacy technology and a lack of innovation are limiting its potential. CDS is revolutionising the industry to remove technical complexity which will enable us to bring the benefits of modern treasury apps to a wider global market facing similar issues.'
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