Treasury Intelligence Solutions GmbH (TIS), a Walldorf, Germany–based provider of a cloud platform for managing corporate payments and cash flows, raised $12m in additional financing.
Venture capital firm 83North has joined previous investors Target Partners and Zobito.
The company plans to use the new funds to further accelerate product development and scale operations in Europe and the US.
Founded in 2010 by Jörg Wiemer, CEO, and Erol Bozak, CTO, TIS provides a cloud platform for managing corporate payments and cash flows. It enables companies to make efficient, secure and cost-effective payment transactions and to make better decisions when analyzing financial and operational performance, based on real-time payment flows. The company takes care of managing various payment formats, communication channels with banks, and ERP-agnostic integration. and follow us on Twitter and LinkedIn.
Globally recognized organizations, including Office Depot, Staples Solutions, Archroma, Dachser, Fresenius, Fujitsu, Oettinger Davidoff and Swissgrid, use TIS to standardize and analyze payment flows throughout their organizations.
GP Bullhound, an international technology investment banking firm, acted as sole advisor to TIS during the round of financing.