Treasury Intelligence Solutions raised $20m in a financing round led by Aquiline Technology Growth

Treasury Intelligence Solutions, a Walldorf, Germany-based SAAS developer of a cloud platform for managing payments, announced completing a $20 million financing round.

The money was raised from investors led by Aquiline Technology Growth, with participation from existing investor 83North.

In conjunction with the funding, Michael Cichowski of Aquiline joined the company's Board of Directors.

Proceeds will be used for product development and to scale operations in Europe and in the US.

Treasury Intelligence Solutions (TIS), founded in 2010 by CEO Jörg Wiemer, is a global leader in managing corporate payments. Its solution is a cloud platform for company-wide payments and cash management. Many globally recognized organizations, including Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN, use TIS to standardize and analyze payment flows and to obtain liquidity overview throughout their organizations.