Cashforce
AcquiredTechstars '15Antwerpen, BE · 5 known investors
Belgian cash forecasting and working capital analytics software provider, acquired by Treasury Intelligence Solutions in 2022.
Also known as Cashforce NV
Investors · 5
Funding
SEC filings, press & company announcements- Undisclosed amountSeries AMar 2024Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Cashforce is a cash forecasting and working capital analytics software company headquartered in Antwerp, Belgium. Its cloud platform automates cash flow forecasting for corporate finance and treasury departments, offering transaction-level forecasting, flexible reporting, and a simulation engine for testing multiple scenarios. The product integrates with enterprise ERP and treasury management systems as well as banking systems, and applies advanced analytics and machine learning to produce forecasts and identify cash generation opportunities across an organisation.
The company positioned itself as a "next-generation" treasury solution focused on automation and data integration, and its platform was deployed at large corporate treasuries including Pearson and Staples. In September 2020 Cashforce announced Cashforce NextGen, a rebuilt platform adding real-time data processing, a revised user experience, expanded scenario-building capabilities and additional AI-driven algorithms, with first rollout scheduled for the first quarter of 2021. In June 2022 Cashforce was acquired by Treasury Intelligence Solutions (TIS), which integrated the forecasting and working capital solution with its SaaS enterprise payments platform.
Founding story
Cashforce was founded in 2012 in Antwerp by Nicolas Christiaen, who served as CEO, with the aim of addressing corporate cash management challenges through automation and integration so companies could forecast cash flows more accurately. Michel Akkermans, whose investment company Pamica NV backed the business, served as Executive Chairman.
Business model
Cashforce sells a cloud-based (SaaS) cash forecasting and working capital analytics platform to corporate finance and treasury departments, deployed through integrations with clients' ERP, TMS and banking systems.
Traction
The company reported hyper-growth from 2018 driven by partnerships and enterprise deployments, serving international corporate clients in more than 140 countries; its solution was described at acquisition as deployed at many of the largest and most sophisticated corporate treasuries. A customer at Pearson cited significant annual borrowing savings from AI-powered forecasting and scenario building.
Latest developments
Treasury Intelligence Solutions announced the acquisition of Cashforce on 16 June 2022 for an undisclosed sum, folding its cloud forecasting solution into TIS' payments platform to cover cash positioning, forecasting, cash flow analytics and working capital management. In August 2022 a partnership with Kellogg Company was reported to create a smart forecasting solution with new working capital insights and KPIs.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Cashforce competed in the corporate treasury and cash management software market alongside vendors such as Kyriba, GTreasury, Reval, FIS and Finastra. Its acquisition by TIS was characterised as part of a wider consolidation wave in treasury systems that also included Nomentia/TIPCO, Coupa/Bellin and Bottomline/TreasuryXpress.
The platform emphasises deep automation and data integration with ERP and treasury systems, transaction-level granularity, a scenario simulation engine, and machine-learning-based forecasting, with a stated design goal of adapting to a client's forecasting maturity so processes can be scaled gradually.
Technology
A cloud platform combining ERP and TMS data integration, bank connectivity, advanced analytics, machine learning and AI-powered forecasting algorithms, with an intelligent simulation engine for scenario testing; the NextGen release added real-time data processing and smart alerting.
Go-to-market
Direct enterprise sales supported by an ecosystem of partnerships with global cash management banks (notably Citi), treasury consultancies and bank connectivity providers, plus co-development with clients through an Early Adopter Program.
Corporate finance and treasury departments at large and mid-market multinational enterprises; named users include Pearson, Staples and Kellogg Company.
Geography
Headquartered in Antwerp, Belgium, with offices reported in Amsterdam, New York, London, Ghent, Copenhagen and (from 2021) Warsaw; Zurich and Singapore were named as planned locations in 2019. Corporate clients are described as spanning more than 140 countries across Europe and North America.
History
Founded in 2012 and based in Antwerp, Cashforce built its cash forecasting and working capital platform and, from 2018, expanded through partnerships with global banks, treasury consultants and bank connectivity providers. Offices were opened in London, Ghent and Copenhagen in 2019 alongside existing locations in Amsterdam and New York, and a Warsaw office followed in June 2021. A €5 million Series A closed in October 2019. The NextGen platform was announced in September 2020 for a Q1 2021 rollout. In June 2022 the company was acquired by Treasury Intelligence Solutions.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsKellogg Company partnered with Cashforce to build a smart forecasting solution pairing Cashforce's Working Capital Insights product with new working capital insights and KPIs.
TIS, an enterprise payment optimization provider based in Heidelberg, Germany, acquired Cashforce for an undisclosed sum. Cashforce's cloud cash forecasting and working capital solution was to be integrated with TIS' SaaS payments platform. The two firms had been partners for several years prior to the deal.
Citi partnered with Cashforce to provide a solution aimed at improving cash forecasting accuracy and working capital insights.
Cashforce announced the opening of a new office in Warsaw, Poland to expand the company's activities.
Cashforce announced Cashforce NextGen, a new software platform adding real-time data processing, a revised user experience, enhanced scenario building and additional AI-powered algorithms. The platform was built with clients and prospects via an Early Adopter Program alongside treasury advisory firms and global cash management banks, with first rollout scheduled for Q1 2021.
Cashforce announced a €5 million Series A growth financing round led by INKEF Capital and Citi Ventures, with existing investors Pamica NV (investment company of Michel Akkermans) and Volta Ventures co-investing. Proceeds were earmarked for global expansion into new markets.
During 2019 Cashforce opened offices in London, Ghent and Copenhagen, with Zurich and Singapore stated as planned next locations.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Cashforce is Advancing Cash Forecasting Innovation with the Launch of its “Cashforce NextGen” Platform | Treasury Management Internationaltreasury-management.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Cashforce do?
- Belgian cash forecasting and working capital analytics software provider, acquired by Treasury Intelligence Solutions in 2022.
- Who are Cashforce's investors?
- Cashforce's investors include Techstars, Citi Ventures, Inkef, Pamica NV, Volta Ventures.
- Where is Cashforce headquartered?
- Cashforce is headquartered in Antwerpen, BE.