In January 2016 the three founders Niels, Marien and Arjan were one of three winning teams in Rabobank's Moonshot innovation campaign with their idea of lowing the FX trading margins further by bringing buyers and sellers together. Hundreds of companies in the small and mid market segment were interviewed and observed. This led to a striking conclusion: companies between EUR 1 and 500 million (EUR/USD) turnover size were not so keen on pricing. They mainly communicated that they were struggling to do treasury right. The founders observed what they were trying to achieve in mainly Excel sheets and designed an online platform that would take away most of the Excel work and related possible errors. Treasurers and controllers loved it. Easytrade was born.

Later in 2016 the team converted the prototype into a working MVP Web environment. A whole new technology stack was used and the environment was connected to Rabobank's FX pricing and trading environment. Later that year automated hedging of Orders/Invoices was introduced.

The fresh Web environment was improved with the input of the first 50 company end-users and many additional companies in the range of an annual turnover of EUR 1 - 500 million were approached and interviewed. In the second half of 2017, the team launched a second automated hedging module for a new group of company users: forecast based hedging. This module is typically used for companies where projects are being hedged: for example software implementation, machine builders and infrastructure projects.

Towards the end of the year the team was challenged to come up with a business model that can generate revenues. The founders thought that they could have a much bigger impact, if they could pass on their insights to other banks and to bridge the gap between what companies aim to do in Finance or Treasury departments and what banks are offering.

In May 2018 Rabobank decided to replace its existing FX front-end for single bank clients completely with TreasurUp's services, based on positive client feedback.

Only one month later TreasurUp signs its first contract with an 'external' bank client: OP Bank (Finland) for white label services. Furthermore it extensively invests in the platform to allow for multiple banks using it with regional adjustments.

In august 2018 TreasurUp changes its business model by fully focusing on and delivering its services and solutions to banks only.

The new focus of the team is creating front-ends that reflect the way a treasurer would or should work. That means crossing business silo's of banks and thinking in treasury journeys. For that reasons, the team changes its name from 'Easytrade' to 'TreasurUp'. The name TreasurUp is used to make bank front office and IT staff think 'treasury' and not 'business line'.

In the second half of the year TreasurUp launches its second channel: a mobile app for iOS and Android that is also offered white-labeled to banks. In December 2019 TreasurUp signs a contract with a third bank client: KBC Group (Belgium).

Now that banks have become clients of TreasurUp, the venture realizes it needs to be ahead of potential competition. With the help of the bank, it starts preparing for a spinoff which includes searching for investors.

In May 2020 TreasurUp is awarded a place in the Global Markets Incubator Program of the French bank Société Générale.

Later in 2020, Nordea becomes the fourth banking client of TreasurUp and rolls out the online services to its business clients in Denmark, Sweden and Norway and later in Finland.

In February 2021 TreasurUp wins the Global Finance Magazine award for World’s Best New Treasury Technology, 2021.

In June 2021 TreasurUp spins out of Rabobank through a successful series A investment round with main shareholders being Rabo Investments (Netherlands) and OFX (listed FX payments company, Australia).

Later in 2021 TreasurUp starts the development of its 'light TMS' module that it believes every Commercial Banking unit should offer its business clients: Cash Visibility & Forecasting. This new module is based on the latest Open Banking (PSD2) standards and ERP integration. It offers the possibility to integrate these forecasts with bank products like credits & loans and term deposits, but of course also FX.

As Information security is key to TreasurUp's services for banks, it heavily relies on sound processes and procedures for data protection. In 2022 the company proudly receives the ISO 27001 certification. Furthermore it is awarded the 'Outstanding Innovation in Treasury 2022' Innovator recognition of Global Finance for its Cash Visibility module that banks can offer to their business clients.

As ERP/bookkeeping and order data is vital in a lot of corporate treasury processes, TreasurUp decided to develop the 'Connection Center'. This allows company clients of banks to smoothly connect their ERP/bookkeeping and order management system to the bank's online portal. This offers a whole new array of services and allows banks to start offering fourth channel next to Web, Mobile and the front-office: APIs.

Early 2022, TreasurUp welcomes SEB (Sweden) as its new banking partner.

2023 is TreasurUp's year of partnerships. The company has learned to lean on other companies that specialize in areas that TreasurUp requires to expand its total service offering to banks with. The company signs partnership agreements with Codat for ERP connectivity, Movitz for cross border payments and TradeCrediTech (TCT)/ Nimbla for trade credit insurance. Next to that other companies are brought into the ecosystem that all help each other in a great way to improve a bank's online Commercial Banking offering.

In June 2023 TreasurUp won the Global Finance 'Innovators Award' for Trade Credit Insurance in online Commercial Banking. This concept fully integrates trade credit insurance with banking which is a unique proposition for banks globally.

New banking clients in 2023 are: Handelsbanken (Sweden, Norway and United Kingdom) and Oldenburgische Landesbank / OLB (Germany).