Cashforce announced that it has been awarded a grant from Flanders Innovation & Entrepreneurship (VLAIO). The grant will fuel the development of the Cashforce NextGen platform.
CASHFORCE NV, founded in 2013, is a Flemish/Belgian player active in the global market of analytics and forecasting for cash flow and working capital. The company was supported by a US-based accelerator program TechStars early on. In 2015, the company attracted additional investors and the first modules of the Cashforce 1.0 platform were launched on the market. With this existing platform, the company now has about 50 global customers.
After a thorough due diligence, Cashforce has now been awarded a grant from the Flemish Agency for Innovation and Entrepreneurship (VLAIO). With this grant, the company energizes the development of the “NextGen” Cashforce platform to further develop cutting-edge functionalities in the treasury space. The new platform will be significantly better positioned in the market and will be much more scalable (both in terms of servicing more and larger customers as well as in terms of added functionality). Implementation and maintenance of the solution will be significantly simpler due to the newly developed functionalities such as automated workflows, innovative AI-forecasting and best practice architecture. This way, the product will be better positioned to help companies to assess their working capital, cash flow and balance sheets, which in turn supports their decisions to stay healthy and financially thrive.
This grant is another great reinforcement of trust in the vision of Cashforce to reinvent the world of treasury. This support will also further allow the company to continue its growth trajectory regarding its development, sales, customer success and other teams.
More information on the platform can be found in the below teaser video or this TMI interview.