London-based Bracket, an FX, treasury,
and cash management platform for mid-market businesses, has raised $7 million
in seed funding. The round was led by Macquarie Group’s Commodities and Global
Markets business and Blackfinch Ventures, with participation from existing
investor Failup Ventures.
Demand for modern treasury
infrastructure has grown among mid-market companies, many of which continue to
rely on spreadsheets and manual processes to manage FX exposure, cash
visibility, and bank connectivity. These limitations have increased the need for
more integrated and automated solutions.
Founded in 2024 by FX and treasury
industry leaders Alex Charles, Pierre Anderson, and Martin Lee, Bracket was
established to address these challenges. The company’s AI-enabled platform
centralises bank accounts, automates FX workflows, and provides real-time
treasury insights, reducing reliance on manual processes that still dominate
many finance teams’ operations.
In addition to serving corporate
clients directly, Bracket has developed a bank distribution model, licensing
its platform to global banks and financial institutions to help them deliver
modern treasury tools to their mid-market customers.
Commenting on the funding, Pierre
Anderson, Co-CEO and Co-founder of Bracket, said that mid-market companies are
often expected to meet the same standards as large corporates without access to
equivalent tools, leaving many dependent on outdated systems. He explained that
Bracket’s platform automates treasury operations using AI and provides finance
teams with real-time visibility and control over bank data within a single
system.
The new investment will support further product
development and Bracket’s next phase of growth, including plans to open offices
in Europe and Australia and expand its workforce over the coming year.