International VC firm 83North invested an additional 12 MUSD in our portfolio company Treasury Intelligence Solutions GmBh (TIS), the leading cloud platform for managing corporate payments and cash flows. TIS will use the $12 million in financing to further accelerate product development and expand their operative business across Europe and into the USA to meet growing international demand for efficiency in a highly inefficient market.
According to Jörg Wiemer, CEO and Co-Founder of TIS, this new funding along with the valuable expertise of their new investment partners will help them profit from increasing network effects, allowing them to further strengthen their market leadership.
The German based company already has a track record of success supporting internationally known companies such as Office Depot, Staples Solutions, Archroma, Dachser, Fresenius, Fujitsu, Oettinger Davidoff and Swissgrid to manage their payment runs in a fast, secure and efficient way using their patented SAAS B2B solutions.
Markus Roithmeier from Zobito sees this investment as a door opener into a new global category with a company which has the potential for massive growth in the corporate payment space. “We are really pleased to have 83North as a new partner for TIS to support them in their further development.”