Dex is a high-growth, seed-stage startup revolutionalizing recruitment. As with many venture-backed companies, treasury discipline became critical immediately after fundraising.
Dex initially diversified using Revolut Business and Wise for speed at incorporation stage. Later, they added HSBC for a more traditional corporate setup, but onboarding friction and tech limitations made it clear this was not scalable.
The bank operational problem:
Before Round, Dex used a combination of Revolut Business and Wise to diversify cash quickly during incorporation. As the business grew, they explored opening a traditional corporate bank account. However, many traditional providers were unable or unwilling to work with them as a seed-stage business, and HSBC was the only bank that was actually able to proceed with onboarding.
The experience highlighted the friction of traditional banking:
Opening additional bank accounts to diversify risk would have required repeating this process multiple times.
As Lucy, CFO at Dex, explained:
“Our HSBC account probably took 3 - 4 hours to set up, and then close to a month to open. To repeat that process across multiple banks just wasn’t realistic.”
The cash diversification problem:
After raising capital, Dex needed to ensure funds were not concentrated in one institution.
Their priorities were clear:
Without an intermediary layer, diversification would have meant manually opening and managing multiple bank accounts.
The treasury problem
Dex did not want idle capital sitting in low-yield accounts. They were already using Revolut and Wise treasury products, but:
The ideal solution would allow capital to remain liquid, safe, and yield-generating without operational complexity.
Before fully implementing Round, Dex operated across multiple providers:
Revolut Business
Wise
HSBC Corporate
Dex adopted Round primarily for its Savings product.
Round enabled:
In addition, Dex recently connected all bank feeds to Round, creating a unified treasury view across accounts.
"If I had to open every single underlying bank account manually, it would have been hundreds of hours. I wouldn’t have done it. But the risk reduction we get from Round is massive."
“For me, the biggest benefit is that our risk profile massively decreased. I get diversification without having to open and manage a web of bank accounts. And if I had tried to do that manually, it would have been hideous.”
— Lucy, Fractional CFO at Dex
Simple onboarding
“Compared to traditional banks, the onboarding was super simple. The initial setup was slick, and the team was incredibly responsive throughout.”
Slack support
“The Slack support is brilliant. Any time we’ve had questions, the team responds quickly and clearly.”
Risk diversification without friction
“I wouldn’t have opened all those bank accounts manually. Round gives us the diversification benefit without the operational headache.”
Unified treasury visibility
“Being able to see our cash in one place made it much easier to oversee everything and double-check reporting.”
Dex plans to continue using Round as its treasury infrastructure layer while scaling.
As the company grows, having diversified, yield-generating, and centrally visible cash management reduces operational risk without increasing finance workload.
About Dex
Dex is an AI-powered talent matchmaking platform that helps software engineers and top tech companies find their best career fits. Using conversational intelligence and deep candidate profiling and data-driven insights into companies’ culture and fit, Dex connects teams with motivated candidates, making recruitment smarter, faster and more human.
About Round
Round builds AI-powered financial infrastructure that automates treasury, AP, and payroll operations for European companies and VC funds. Backed by Alstin Capital, Round helps finance teams earn more on idle cash while spending less time on operational busywork.
Want to see how Round can help your finance team? Book a demo or get in touch
