S04E01. Cash, capital and costs: Building a transformational business in treasury management
Nov 1, 2023
auto_awesome
Exploring the journey of building a business in treasury management, challenges in convincing investors and employees, importance of capital efficiency, risks in financial portfolios, corporate culture values, and benefits of a hybrid work model and tech tools for efficiency.
Starting a business in treasury management requires clear vision and passion to attract employees and investors.
Maintaining capital efficiency is crucial for sustainable growth and seizing market opportunities in treasury management.
Deep dives
The Founding Story of Treasury Spring
Kevin Cook, the CEO and co-founder of Treasury Spring, shares the founding story of the business. The journey traces back to 2006 when Kevin and his partners traded fixed income at a hedge fund, learning valuable lessons from their experiences. Transitioning from advisory to asset management, they established Treasury Spring in 2016, aiming to offer a wide range of cash investment options to institutional clients based on their insights and expertise over the years.
Building Confidence to Start a Tech Startup
Kevin discusses the leap from a stable consultancy life to launching an early-stage tech startup. Motivated by a profound understanding of a significant problem and possessing a clear vision of the necessary technology and operational structures, Kevin and his team felt compelled to embark on this venture. Despite easier options for making money, they recognized a unique opportunity to address a substantial market need.
Challenges and Success in Convincing Employees and Investors
Kevin highlights the contrasting experiences in convincing employees and investors to join Treasury Spring's mission. While attracting skilled employees who shared the team's passion for a transformative market solution was relatively straightforward due to their enthusiasm for the industry, securing investor trust in the early stages presented challenges. The importance of conveying a clear value proposition and focusing on the 'why' over the 'how' emerged as a key learning for engaging investors effectively.
Capital Efficiency and Strategic Growth
The discussion shifts to Treasury Spring's approach to capital efficiency and strategic growth. Kevin emphasizes the significance of maintaining a capital-efficient model while tapping into the current expansive market opportunities. Despite a well-capitalized position and potential for accelerated growth, the business remains committed to a balanced approach that prioritizes long-term sustainability and prudent resource allocation.
In this episode MMC Partner, Ollie Richards, sits down with Kevin Cook, founder and CEO of TreasurySpring - an MMC portfolio company helping firms of all sizes unlock and protect the true value of their cash assets. Ollie and Kevin discuss what is like to build a business in “one of the least innovative corners of the financial markets” and convince investors and employees to join you on the journey. And, having raised a $29 million Series B led by Balderton Capital in the summer of 2023, Kevin shares insights on business building why it was so crucial that the business could scale in a capital efficient way. Listen to the full conversation now.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode