Seapoint and WealthKernel team up to automate treasury for startups
European startups and scale-ups often struggle to manage their cash efficiently. Many leave funds idle in current accounts, missing opportunities to earn returns that could extend their financial runway. Now, a new partnership aims to change that by bringing automated treasury solutions directly to these businesses.
Seapoint, a financial platform for startups, has teamed up with WealthKernel to offer access to Money Market Funds (MMFs) and custody services. The move comes as UK finance leaders report widespread difficulties in tracking and controlling business spending.
Seapoint's platform already automates key financial tasks using AI. These include payroll processing, expense management, invoice payments, and reporting. By integrating WealthKernel's API-first infrastructure, the company will now provide institutional treasury products directly within its system. Specifically, users will gain access to BlackRock's Sterling and Euro Government Liquidity Funds.
The partnership arrives at a time when manual treasury work is consuming valuable time for finance teams. A recent survey found that 95% of UK finance leaders face challenges in spend management, often due to disconnected tools and a lack of real-time visibility. This inefficiency pulls resources away from strategic tasks, making cash control even more critical in today's economic climate.
Seapoint's goal is to simplify treasury management for startups, allowing them to earn yield on idle cash without added complexity. As an Appointed Representative (AR) of WealthKernel, the platform will enable businesses to allocate funds more effectively while focusing on growth. The collaboration also ensures that startups can manage capital efficiently, reducing the risk of missed opportunities.
The new service will let European startups access institutional-grade liquidity funds through a single platform. By automating treasury functions and offering yield-generating options, the partnership aims to help businesses optimise their cash reserves. This could prove especially valuable for companies looking to stretch their runways in an uncertain financial landscape.
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