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 Historically, the treasury systems market has been focused on larger companies but now outdated legacy technology and a lack of innovation are limiting its potential.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.'
Deutsche Bank is partnering with FinLync, using its pre-built API integrations and SAP-embedded treasury applications to allow corporate clients to connect to Deutsche Bank’s API offerings.
FinLync’s product suite includes apps for cash visbility, real-time payment tracking, beneficiary account pre-validation and automated reconciliation.
'Our integration with FinLync makes it much easier for corporates to adopt our banking APIs and shortcut the road to automated, real-time treasury,” said Kerstin Montiegel, global head client connectivity / digital client access channels at Deutsche Bank.
Phillip Klein, co-founder and CEO of FinLync, said the company was, 'Excited to join forces with Deutsche Bank’s renowned Corporate API Program. Corporate finance teams have long sought the ability to access all their available bank data and deliver it directly into their existing systems.'
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