Crowd Data Systems secures investment funding
London - Crowd Data Systems is pleased to announce it has secured funding to further develop the next generation of treasury management systems.
London based pre-seed fund RLC Ventures led the funding round, alongside further investment from Ascension Ventures and Force Over Mass Capital.
Crowd Data Systems plans to use the fresh injection of capital to increase R&D, sales and marketing, as it expands its innovative cloud-based apps further into cash and treasury management.
Companies of all sizes rely on treasury management systems for cash, liquidity and financial risk management across business units and currencies. Businesses spend over £1billion globally on these systems each year, but the existing technology is outdated.
The founders of Crowd Data Systems have a wealth of knowledge of treasury systems, which combined with a team of highly experienced developers and a new UX team bring a fresh outlook to a stagnated market.
Crowd Data Systems’ entry into treasury management will free treasurers from the overhead of complex system administration, and provide a modern application suite built to surpass industry standards.
Commenting on the investment, Kelly Scammell, co-founder of Crowd Data Systems, added “We are delighted to have such award-winning investors supporting us and sharing in our vision. We look forward to showing treasurers how revolutionary modern technology can reduce technical complexity and improve the analytical capabilities of their teams.”
Reece Chowdhry, Founding Partner of RLC Ventures commented “Backing such an experienced and thoughtful team led us to build strong conviction in a relatively short period of time. Steve and Kelly have demonstrated a comprehensive understanding of the market landscape. Their healthy appetite for disruption is sure to shake up the historically innovation-light treasury market and we're thrilled to be partnering with them.”
