Walldorf, Germany-based fintech startup TIS (brief for Treasury Intelligence Options), which offers a cloud platform for managing company funds and cash flows, has secured $20 million in extra financing led by Aquiline Know-how Progress, with participation from current investor 83North.
The corporate says it plans to make use of the capital to speed up product improvement and to scale its operations in Europe and within the US.
The corporate, which was born in the identical small city that’s dwelling to the world’s third largest software program firm, SAP, already counts Adecco Group, Bertelsmann, Hugo Boss, ManpowerGroup and others amongst its shoppers.
Jörg Wiemer, the co-founder and CEO of TIS, says: “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.”
Aquiline’s Michael Cichowski is becoming a member of TIS’s board of administrators in connection to the spherical.