WealthKernel, a digital investing infrastructure provider, today announces its partnership with Seapoint, a business account that automates payroll, expenses, invoice payment, reporting and more for startups and scale-ups. The partnership enables Seapoint to offer access to Money Market Funds (MMFs) and custody services to its customers.
For many high-growth companies in Europe, managing finances remains fragmented and manual. A recent study showed that 95% of UK finance leaders face challenges in business spend and expense management, with many lacking real-time visibility into their spending patterns due to disconnected tools. Manual treasury work also keeps them from mission-critical tasks, and in the current economic climate, control over cash has never mattered more.
“A critical gap in this landscape is treasury management,” said Sean Mullaney, CEO of Seapoint. “Many startups that have recently raised significant venture funding leave their capital sitting in current accounts, missing out on returns that could extend their runway. While founders understand the opportunity cost, the friction of onboarding with additional providers and undergoing further KYC paperwork often prevents them from putting their cash to work.”
Seapoint aims to solve this by simplifying access to MMFs for startups to earn yield on idle cash. Their platform provides a unified business account that automates payroll, expenses, invoice payments, and reporting using AI.
Through this partnership, Seapoint has integrated WealthKernel’s API-first infrastructure to offer Institutional treasury products, specifically BlackRock Sterling and Euro Government Liquidity Funds, directly within its platform by operating as an Appointed Representative (AR) of WealthKernel.
“Treasury management kept coming up as something our customers really wanted, but they didn’t want the hassle of managing another platform,” said Sean Mullaney, CEO of Seapoint. “Working with WealthKernel lets us offer institutional treasury products right inside Seapoint, so our customers can put their cash to work without adding complexity to their operations. Their AR framework gave us a clear path to market, while their API support helped us build and launch a smooth customer experience, quickly.”
“We are excited to partner with Seapoint to help bridge the gap between business banking and treasury, tackling a major pain point for European startups,” said Karan Shanmugarajah, CEO of WealthKernel. “With WealthKernel’s API-first tech stack, we are helping businesses like Seapoint equip founders with the tools to manage their capital more efficiently while staying focused on scaling their businesses.”