Automating treasury and AP operations with Jack & Jill

The Challenge

Jack & Jill, an AI recruitment startup in the middle of rapid growth, needed financial operations that could keep up. Founded in early 2025 by Matthew Wilson (former CEO of Omnipresent) and Saaras Mehan (YC-backed founder of Kular.ai), the company raised $20M in seed funding led by Creandum just six months after launch.

The treasury problem:

• £14M sitting in Tide right after their seed round earning 0.65% - leaving £440k+ in potential interest on the table annually
• Cash scattered across multiple accounts (Tide, Revolut, Amex)
• No strategy for optimising yield while maintaining operational liquidity
• Every treasury decision required manual research across multiple providers

The AP problem:

• Weekly contractor invoice runs handled manually - a time-consuming and error-prone process
• High risk of human error - wrong amounts, duplicate payments, fraudulent invoices
• Disconnected tools requiring manual data entry at multiple stages between invoice receipt and payment execution
• No direct integration between Tide and Xero for payment execution
• Growing vendor list of contractors making the problem worse weekly

"Every Friday, I was spending an hour juggling screens to process contractor payments manually. When you're doing that by hand, the risk of errors - wrong details, wrong amounts - is always there. We needed a better way."

— John, Founding Operator at Jack & Jill

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Alternatives Considered

Before finding Round, Jack & Jill evaluated multiple solutions:

For Treasury:

• HSBC Innovation Banking - 3.8% savings rates with 31-day or 3-month access periods, but required opening new accounts and managing multiple banking relationships
• Revolut Business - Already used for day-to-day operations and debit cards, but limited to £2M for interest-bearing accounts
• Tide - Current provider earning just 0.65% with £1M limit on interest-bearing balances on their Pro plan

For AP:

• Moving to Revolut - Supported multi-line invoice payments (unlike Tide), but still required manual payment execution
• Staying with Tide - No Xero integration for payments, forcing continued manual entry

The challenge: Every option required managing multiple providers, opening new accounts, and still left significant manual work. None offered an integrated solution for both treasury optimisation and AP automation.

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The Solution

Jack & Jill consolidated their treasury and AP operations onto Round's autonomous platform.

Treasury Module

• Single dashboard aggregating all bank accounts (Tide, Revolut, Amex)
• Majority of cash deployed into money market funds earning 3.85% net - a 5x improvement over Tide
• Automated liquidity rules: maintain an operating buffer for day-to-day expenses
• Next-day liquidity when cash needed for monthly payroll or urgent USD/EUR contractor payments

No need to open additional bank accounts or manage multiple savings products manually

AP Automation

• Direct Xero integration pulling invoices from Dext inbox
• OCR + fraud detection flagging suspicious invoices, duplicates, and incorrect due dates
• One-click batch approval for all weekly invoices
• Autonomous payment execution on due dates
• Auto-reconciliation back to Xero, marked as paid
• All payments execute from yield-bearing accounts, keeping cash working until the invoice is due

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The Results

Time saved:

• 4+ hours per month reclaimed from manual Friday payment runs
• Zero ongoing treasury management - set rules once, runs on autopilot
• 100% elimination of manual account detail entry and payment verification

Money earned:

• 3.85% net yield on treasury reserves with daily compounding and auto-reinvestment
• Additional annual interest vs Tide's 0.65% (5x improvement)

Risk eliminated:

• Zero payment errors since implementation
• Fraud detection layer catching suspicious invoices before payment
• Full audit trail across all transactions and bank accounts
• No more manual verification of vendor legitimacy or invoice amounts

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Key Features They Love

Treasury aggregation:

“Before Round, our cash was spread across Tide, Revolut, and Amex, and getting a clear picture meant logging into multiple accounts and stitching it together manually. Now everything is visible in one place. At any moment, I know exactly how much cash we have, where it sits, and what it’s earning.”

Just-in-time payments from yield:

“The biggest unlock is that our cash continues earning yield until the exact moment it’s needed. We no longer have to choose between earning interest and having liquidity for operations. Round handles that automatically.”

Xero integration:

“The Xero integration removed a huge amount of manual work. Invoices flow in, payments execute automatically, and everything reconciles back without intervention. What used to be a weekly manual process is now completely hands-off.”

Multi-currency support

“We pay contractors in GBP, USD, and EUR, and previously this required juggling different tools and manual steps. With Round, it happens seamlessly, without extra effort or operational overhead.”

The Setup

• Onboarding time: 5 days from signup to first automated payment
• Integration complexity: Connected Xero account and linked Tide/Revolut/Amex via Open Banking
• Team training: 30-minute walkthrough with Round's Head of Product to set up automations

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Looking Ahead

“We’re building a company powered by autonomous AI agents, so it’s important that our financial infrastructure works the same way. Round removes operational work from treasury and payments, allowing us to focus entirely on building and scaling the business.”  

— Matt Wilson, Co-Founder & CEO, Jack & Jill

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About Jack & Jill

Jack & Jill is an AI recruitment company based in Shoreditch Exchange, London. Founded in early 2025 by Matthew Wilson (former CEO of Omnipresent, scaled to $600M valuation) and Saaras Mehan (YC-backed founder of Kular.ai), Jack & Jill uses conversational AI agents to reinvent recruitment.

The platform features two AI agents: "Jack" conducts voice interviews with candidates to understand their skills and ambitions, while "Jill" works with hiring managers to identify ideal matches. In just ten months, Jack & Jill built a network of 110,000 professionals, integrated into hundreds of high-growth London companies, and raised $20M in seed funding led by Creandum (early backers of Spotify and Klarna), with participation from Dig Ventures, Entrepreneur First, Ada Ventures, and 75 angel investors including Nico Rosberg and executives from Lovable, Anthropic, and ElevenLabs.

The company is now expanding to San Francisco and the broader US market.

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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.

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