In 2021 we decided to co-invest in TreasurUp, a FinTech cloud service provider in offering Commercial Banking departments white-labeled solutions for their SMB clients. They aim to provide banks around the world with the most competitive Web, Mobile, and API solutions.
We are proud, that after years of cooperation, we can present an interview with Niels van Daatselaar, CEO of TreasurUp and Anca Borodi, General Manager of COERA about how this collaboration came to life and what it’s like working together.
Please join us in exploring the joint journey.
THE FIRST QUESTION GOES TO NIELS: WOULD YOU TELL US A BIT ABOUT TREASURUP?
Niels van Daatselaar: TreasurUp is a proud scale-up company that seems to have found an interesting niche. It offers white labeled online services for Commercial Banking to banks around the world. Banks are rapidly upgrading their online offerings for small and medium-sized businesses because of heavy competition and new demand from their clients. It started off with foreign currency hedging and is now growing into other areas like Cash Visibility & Forecasting and trade credit insurance. It also aims to be the front runner in ERP integrations and Open Banking.
AND HOW WAS YOUR JOURNEY FROM STARTING- TO SCALING -UP UNTIL NOW?
Niels: Quite a roller coaster, but with a clear ambition from the start: launching an independent company. To spin off from a bank and execute an MBI (Management Buy In) turned out to be much more difficult than expected. If you analyze the chronology, it has been a quite rational one though: from winning the innovation campaign within a bank to prototyping and subsequently developing a superior solution based on SMB client demand to white labeling this to banks to spinning off and running it as a company. We are enjoying every second of this ride!
NOW ANCA, HOW DID TREASURUP AND COERA MEET?
Anca Borodi: We have known each other from the past, when I was responsible for a large project and Niels was a main stakeholder on the business side of the bank. We haven’t had contact for quite some years and one day, Niels contacted me, curious about our (at that time new) COERA adventure.
From the start, TreasurUp was in need of an agile partner: a partner that could swiftly grasp the ideas behind the envisioned product and, with the right experience and expertise, could build a solid software solution. All with limited budget and a challenging time to market. The whole idea was to prove to the market that the solution fits and deserves to be further enhanced. And so we did!
NIELS, HOW ARE YOU EXPERIENCING THE PARTNERSHIP?
Niels: The partnership with COERA is extraordinary. We met Anca a long time ago during our previous jobs in Cluj in 2007. We noticed that she and the company she worked for could really deliver what we were looking for. Later, in 2017 we were looking for an engineering partner that could build, innovate, maintain and support the solution we had in mind. We were looking for a start-up/scale-up type organization that could match our small size, agility and ambitions. Fortunately, Anca had started a company that ticked all the boxes. The team that we jointly grew and developed has been such a dedicated, knowledgeable, capable and social group of people that it keeps humbling me every time I am over in Cluj. It feels like family. They make cakes for early morning coffee with us, we go out for dinner and drinks and a week passes by very quickly. COERA has proven to be capable of serving the largest banks out there and continuously work as one team together with the TreasurUp-ers elsewhere in Europe. What else can we wish for in a partnership?
WHAT’S THE BEST PART OF YOUR COLLABORATION?
Anca: I really enjoy designing together, as real partners, the TreasurUp concept. I think we learn a great deal from each other, as we bring complementary knowledge to the table. TreasurUp has a lot of experience in the banking industry, treasury and financial markets. While we, as Software Agency, are passionate about designing and engineering applications, from concept to real working solution, using modern technologies. I think, we found a great match in our energy and passion to grow this product and bring value to the Banks and Corporates using it.
Together, we are keen to understand the market and innovate continously, as well as support existing clients to make the best out of the product.
As the Team has been growing, this synergy has never been lost, and we are very proud on the level of commitment and close collaboration between COERA and TreasurUp people.
ANY FAMOUS LAST WORDS LOOKING AT THE FUTURE?
Niels:This team can change Commercial Banking on a global scale. Let's do it!
Anca:Let’s build a strong brand in the FinTech market!