Rabobank and OFX Invest in TreasurUp
Rabobank‘s TreasurUp venture will spin off through a series A funding round together with Australian-listed cross-border payments specialist OFX, whilst Rabobank will remain as a shareholder. Next to these major shareholders, management and TreasurUp’s engineering partner COERA will co-invest.
“Banks around the world are challenged with new business models and technology for small and medium-sized corporate clients. TreasurUp aims to bring them back into the competitive arena with online services that are completely designed around the business clients of banks.
In order to do so, TreasurUp will expand its unique online foreign exchange hedging module and develop new modules like liquidity management and cash flow forecasting. As a company, TreasurUp can be much more competitive than under the umbrella of a bank.” says Niels van Daatselaar, CEO and co-founder.
“We are very proud to have OFX and Rabobank as major investors. OFX offers cross border payment solutions around the world. Their products, their platform, their service excellence, and their global presence will help boost TreasurUp’s ambitions. Likewise, we will continue to closely work with Rabobank in optimizing its service offering to business clients.”
Skander Malcolm, CEO of OFX said: “OFX is delighted to announce its first strategic investment. We believe OFX and TreasurUp have a lot of potential in helping clients around the world with superior risk management, payments, and reporting solutions.
We are excited to start leveraging each other’s strengths in the areas of digital service delivery, risk management, and global coverage for SMEs, especially mid-sized Corporates. TreasurUp has a strong team, a good track record and thought leadership in automating and simplifying risk management, and we have very aligned views on how we can better support clients through simplifying and improving their risk management.”
The Head of Innovation of Rabobank (Wholesale & Rural), Roland van der Vorst adds: “We are excited to announce this successful spin-off that started as an innovation project within Rabobank in 2016. TreasurUp has proven its added value for our clients and beyond, now paving the way to team up with OFX in order to boost innovation and expansion. We treasure the cooperation with TreasurUp on innovative solutions for our clients.”
In the coming years, TreasurUp will focus on expansion outside Europe and the development of new treasury modules and services for banks. OFX is excited to support TreasurUp to offer banks both a state-of-the-art front-end and a proven platform for cross-border payments and risk management.
Why Rabobank and OFX Believe in TreasurUp’s Commercial Banking Vision
As a Rabobank spin‑off backed by OFX, TreasurUp sits at the intersection of banking, FX expertise and modern SaaS technology. Rabobank’s early Moonshot innovation programme already proved there was strong demand from corporate clients for simpler FX hedging and treasury tools.
With OFX joining as a strategic investor, TreasurUp gains access to deep knowledge in cross‑border payments, global coverage and risk management capabilities. Together, these shareholders validate TreasurUp’s mission to help banks win back relevance with SMB and mid‑market clients by providing intuitive, digital treasury journeys instead of legacy tools or spreadsheets.
Expanding Beyond FX Hedging: Liquidity, Forecasting and Trade Credit Insurance
The investment round enables TreasurUp to accelerate development of additional modules such as liquidity management, cash flow forecasting and trade credit insurance. By combining automated FX hedging with real‑time cash visibility, forecasting and risk mitigation, banks can offer a unified treasury experience from within their existing commercial banking portals. This integrated approach is at the heart of TreasurUp’s strategy to make banks the preferred platform for corporate treasurers again.
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