The Challenge
In early 2023, Genie’s plan to maximise interest rates through multiple bank accounts was derailed by the sudden collapse of SVB. Opening new accounts was slow and complex, with some taking six months to set up.
The treasury problem:
- Opening new accounts took up to six months
- Reliance on a few operational accounts increased exposure
- Limited financial visibility across cash balances and performance
- Treasury management became a distraction without a finance team
The quote:
“It took months to get the accounts open, and by the time we were ready to execute, our main bank, Silicon Valley Bank, went out of business.”
— Sebastiaan Debrouwere, Founder at Genie
Alternatives Considered
After considering competitors, Genie evaluated multiple treasury platforms.
For Treasury:
- Other platforms - Not suited to the UK market
- Complex treasury tools - Overly complicated for startup needs
- Manual multi-bank setup - Slow and operationally heavy
Core issue: Existing solutions lacked simplicity, transparency, or suitability for early-stage startups.
The Solution
Genie adopted Round to simplify treasury management and improve financial visibility.
Treasury Module
- Easy setup of investment accounts while retaining control
- Intuitive dashboard with clear reporting on monthly interest
- Centralised visibility across balances and runway
- Automation supporting investor reporting
“Round made it easy to open interactive broker accounts, allowing us to retain control over investments. The dashboard was intuitive, providing clear reporting on monthly interest.”
The Results
Time saved:
- Treasury tasks reduced to a few hours per month
- Eliminated need for part-time CFO
- Reduced time spent on manual treasury management
Money earned:
- Earned significantly more interest since opening account
- Stable returns on capital
Risk eliminated:
- Reduced reliance on limited bank accounts
- Improved investor reporting and transparency
- Stronger financial control without added overhead
Key Features They Love
Xero integration:
“Automates reporting, reduces admin and ensures seamless accounting.”
Connected dashboard:
“Instantly shows cash balances, runway, and monthly interest, cutting out guesswork.”
Scalable processes:
“Banking changes no longer cause chaos and Round has helped build a solid foundation for growth.”
Overall product experience:
“Round is a powerful and intuitive way to manage your finance function as you scale, with minimal effort and high transparency.”
The Setup
Onboarding was simple and designed for founders, with quick setup of accounts, intuitive dashboards, and no need for complex restructuring or dedicated finance resources.
Looking Ahead
With treasury simplified and investor reporting improved, Genie can now focus on scaling its platform without the distraction of financial management complexity.
About Genie
Genie is an e-commerce startup focused on building and scaling its platform while managing financial operations without a dedicated finance team.
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.
