San Francisco, CA, March 14, 2022 (GLOBE NEWSWIRE) -- Treasure Financial, a fast-growing B2B Fintech company providing cash management solutions, announced today the launch of a new product called Treasure Cash™, an allocation within Treasure Reserve, enabling businesses to earn 15x more* on their idle cash with 10x higher FDIC insurance, zero market risk and daily liquidity.
When it comes to managing idle cash, businesses previously had limited tools at their disposal, but Treasure is rapidly filling that void. The Fintech company has built a full suite of products to help C-suites not only better track their finances in real-time but also access tools to help them generate revenue from their business capital. Treasure Cash™ provides businesses in the US the ability to meaningfully monetize their idle cash with the safety of 10x higher FDIC insurance.
“We’re excited to add this new allocation to Treasure Reserve which is our idle cash management offering,” says Sam Strasser, Treasure CEO. “With Treasure Cash™ businesses can generate revenue from their idle cash like big corporations do. This ultra-safe offering which doesn’t bear any market risk, complements Treasure’s High Yield allocation generating up to 100x more**,” says Strasser.
Today, businesses are frustrated with the lack of services and expensive fees they pay with their banks. According to Bankrate, banks receive a minuscule yield, on average.03%***, from their business bank accounts.
With the Treasure platform customers can easily sign up online, add information about their business and typically have their Treasure Reserve account open by the next business day. From there they have the ability to deploy their idle cash into different options such as Treasure Cash™ or Treasure High Yield to maximize the revenue they can make out of their idle cash. All these services are provided with a seamless digital experience.
“It is about time businesses have access to the same type of tools that big corporations deploy on a daily basis to optimize their finances with their treasury department,” says Ben Verschuere, Treasure’s Co Founder. “Our mission is to turn business’ finances into revenue opportunities and our Treasure Reserve does exactly that.”
Treasure customer growth has been impressive since the beginning of the year on the back of the strong value add at net zero cost the platform provides. "We raised a successful Series B and are now earning revenue on those funds by using Treasure’s impactful cash management solution” says Tim Jones, Controller at Stellar Health.
"Treasure is solving two main issues for finance leaders: better return on cash reserves & predictive modeling to assist with cash management” says Doug Karasek, Senior Director of Finance and Operations at Hunt Club. “Their dashboards are easy to use and interpret, allowing for faster decision making when managing cash flow.”
As Treasure continues to expand, the company will also provide a crypto offering to continue helping businesses’ CFOs or CEOs turn their finances into meaningful revenue.
About Treasure Financial
Treasure Financial is a cash management platform designed for growing businesses. Treasure’s technology makes it simple to accurately track cash flow, identify, and monetize idle cash with the Treasure Reserve account. Designed for the specific needs of venture backed and small to medium businesses (SMBs), Treasure Reserve allocations range from the ultra-safe Treasure Cash™ earning 15x* more to Treasure High Yield earning up to 100x** more. Treasure Reserve provides 48 hour liquidity with FDIC coverage up to $2.5M on the cash it holds. Treasure transforms cash flow into revenue, turning finance departments from cost centers to profit generators. Visit TreasureFinancial.com for more information.
*Cash payments are an incentive payment and not bank interest or an APR.
**Based on the current yield of the funds offered by Treasure as of 12/31/2021. Source: Bloomberg.
***Based on the current average business bank account yield. Source: Bankrate.
Contact:
Leigh Stewart
press@treasurefinancial.com
