Managing too much cash could become a problem sometimes, be it business or professional. You need to keep it at a place which is secure and with bank deposits only protected up to £85,000 the cash-rich are left opening accounts at multiple banks just in order to keep their money safe. And moving it around is another headache to find out the best interest rates.
This is where London-based fintech Flagstone plays an important role, as it specialises in moving money between several banks with hundreds of accounts in order to keep cash safe and maximise returns and now the UK startup has secured £12 million (nearly €13.5 million) funding. The investment was led by OMERS Ventures along with participation from existing investors such as Kindred Capital and Moneysupermarket Group plc.