Walldorf, Germany-based fintech startup TIS (short for Treasury Intelligence Solutions), which provides a cloud platform for managing corporate payments and cash flows, has secured $20 million in additional financing led by Aquiline Technology Growth, with participation from existing investor 83North.
The company says it plans to use the capital to accelerate product development and to scale its operations in Europe and in the US.
The company, which was born in the same small town that is home to the world's third largest software company, SAP, already counts Adecco Group, Bertelsmann, Hugo Boss, ManpowerGroup and others among its clients.
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 joining TIS's board of directors in connection to the round.