Round Treasury, a banking and treasury platform designed to make life easier for founders and CFOs, has closed a £1.6 million pre-seed funding round.
The investment round was led by Passion Capital – first investors in Monzo Bank, Tide Banking and GoCardless – with participation from Tiny VC, Ascension, Samos Investments and Entrepreneur First.
The round also attracted support from prominent FinTech figures including Darren Westlake (founder of Crowdcube), Simon Taylor (11FS), Pranav Sood (GM of Airwallex), and former executives from Stripe and Starling.
Several of London-based Round’s early customers also participated as angel investors.
Many SMEs are stuck between legacy enterprise resource planning (ERP) systems and basic Excel spreadsheets when planning their finances, leaving founders and CFOs struggling with cash management.
Without a comprehensive treasury management solution, businesses struggle to optimise liquidity and maintain cash transparency. Additionally, the collapse of Silicon Valley Bank in 2023 was a wake-up call, pushing safeguarding and financial security of cash to the top of founders’ priorities.
Pac O’Shea and Hayyaan Ahmad have developed a solution to simplify cash management and protection. The new platform claims to address the critical need for versatile, user-friendly financial management, where diversifying funds and ensuring accessibility is more crucial than ever.
At the heart of its offering is a treasury solution that helps startups extend their runway and grow their teams by earning up to 5% yield with next-day liquidity through government security backed Blackrock money market funds.
It also offers a multi-banking feature, which allows businesses to manage all their existing bank accounts in one place.
“We kept seeing the same thing with high growth company founders: managing finances felt disjointed, with founders juggling too many platforms and tools just to keep track of their cash,” said CEO O’Shea.
“Our mission is to make financial management easy, no matter how complex it seems. We’re focused on building a product that founders and CFOs love because it saves them time, protects their funds, and helps them grow their businesses. Our goal is to make financial management as seamless as possible so founders can focus on building their businesses.”
Ahmad added: “A lot of founders don’t realise how much cash they are leaving on the table by not following treasury best practices. We want to give founders and CFOs complete visibility and control without any of the hassle. Every feature is designed to be simple – whether it’s automating withdrawals, or diversifying your cash across savings accounts. Managing your cash does not have to be a headache.”
The money will be used in part to expand its services across Europe.
Eileen Burbidge, partner at Passion Capital, said: “Round is doing for treasury management what Stripe and GoCardless did for payments – taking something complex and making it simple.
“Startups don’t need more complexity – they need clarity, control, and growth. Round delivers all of that in one platform.
“We’re excited to support their vision as they reshape the financial stack for the next generation of businesses and to ensure companies of all sizes have access to the best solutions and yield.”