Crescent (crescent.app), a Lincoln-based fintech best known for crypto-backed high yields, has announced it raised a $5 million pre seed round from strategic angels and tech founders including Anchorage Digital CEO Nathan McCauley as it launches a platform to help companies improve cash management. Crescent, which is onboarding early clients, sees its fundraise as a catalyst for growing its userbase, expanding its feature suite, and building out its automation and integration library to help finance teams put cash management on autopilot.
While many companies are looking at ways to trim spending, Grant Roscoe, the founder of Crescent, noticed that most were ignoring how effectively their idle capital was being used.
For years, corporate cash management has consisted of a checking and money market account. Both offer negligible yields and provide little in the form of automation or insights. The current solution also requires finance teams to regularly shop for rates, which is time-consuming.
This idea led Lincoln native Grant Roscoe and Crescent to create their latest product — a cash management platform that aggregates top business-friendly yields and helps companies deploy idle capital easily through automation and cash flow insights. Current yield opportunities include a 4% APY USDC-backed yield and 1% APY FDIC insured yield option.
While spend management and accounting products such as Ramp and Quickbooks help companies understand their financial picture through post-purchase tracking, Crescent is determined to help them go further with existing cash, without introducing friction to finance teams. For more information, visit crescent.app or contact (712) 204-5315 / landon@crescent.app.