3 reasons why your Startup fails

07-09-2020 | by Rowan Hermes | Symbid

Startups are popping up like mushrooms. There are plenty of wonderful success stories from startups conquering the world. But just as soon as they start up, they also go down. It is sometimes said that 90 percent of startups fail. Fortunately, the actual percentage is lower, but the fact remains that making a startup successful is not that easy. We list the three most common pitfalls.

Blog is in Dutch language:


Interim Treasurer Overheid – Part Time (m/v, only Dutch speakers)

04-09-2020 | Treasurer Search | treasuryXL

Onze Partner Treasurer Search zoekt een Interim Treasurer Overheid – Part Time (m/v) voor een prominente Gemeente in de Randstad. De hoofdtaken van de interim treasurer liggen ten eerste op het operationeel managen van de treasury functie met bijzondere aandacht voor financiering. Ten tweede zal de treasurer gevraagd en ongevraagd vanuit haar expertise een bijdrage leveren in het opstellen van beleid. Bijzondere aandachtsgebieden hierin zijn woningbouw en energietransitie.

Ideale Interim Treasurer Overheid

De ideale kandidaat voor deze functie heeft een relevant treasury track record, bij voorkeur in een gemeentelijke omgeving. Als persoon kan ze snel schakelen en communiceert gemakkelijk in verschillende omgevingen.

Onze Opdrachtgever

Onze opdrachtgever is een prominente gemeente in de randstad.

Kandidaat tarief en proces

Het all-in uurtarief voor de kandidaat ligt tussen €80 en €96. Het wervingsproces is strak ingericht door onze opdrachtgever. Voor kandidaten die passen en interesse hebben, hebben we een uitgebreide beschrijving van zowel het proces als de vacature. Het aantal werkuren per week is 20 tot 24.

Startdatum is 15 september, de opdracht duurt 4 maanden met een optie op verlening.


Randstad Zuid



Pieter de Kiewit

T: (0850) 866 798
M: (06) 1111 9783
E: pdk@treasurersearch.com





Start your journey on September 22: International Treasury Management and Corporate Finance course

03-09-2020 | by Kendra Keydeniers | Francois De Witte | ATEL

Start your Treasury Management and Corporate Finance journey on September 22! This is your last reminder before the registration will be closed.

Invest in yourself, invest in knowledge

The treasurer is the custodian of the company’s daily liquidity. He manages, anticipates and secures cash flows by ensuring that financial needs are covered.

This cursus will give the ability to assist directly and practically the treasurer of large corporates or to take over the treasury responsibilities in a SME.

The various modules will allow acquiring an in-depth knowledge of the various areas of the “Corporate Treasure” profession.


This course will start 22 September 2020. It includes 13 training modules and 5 intermediary exams. It is necessary to complete this form before your official registration. Registration will be closed early September 2020.


At the end of this programme, the participant will able to:

  • assist directly and practically the treasurer of large corporates
  • take over treasury responsibilities in a SME.

The various modules will allow to acquire an in-depth knowledge of the various areas of the “Corporate Treasurer” profession.


Module 0: Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager

  • Corporate Treasurer’s responsibilities
  • Cash management (bank account opening, closing, KYC, Cash pooling, Payments and bank connectivity)
  • Liquidity management (importance of working capital management,
  • Risk management (foreign exchange, fraud, credit risk)
  • Trade finance (general context, intro to bank guarantees and letters of credit)

Module 1: Financial Maths (Focus on treasury & corporate finance)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

  • Focus on treasury & corporate finance
  • Time Value of Money
  • Vocabulary
  • Compounding intervals
  • Discount and annuity factors

Module 2: Advanced Excel workshop for treasurers (Dedicated to treasury)
Speaker: Hugues Pirotte / Professor of Finance at Solvay Brussels School

Module 3: Corporate Finance
Speaker: Mikael Pereira / Associate, Finance

  • Valuations
    • M&A’s
    • Portfolios
  • Corporate Financing
  • Corporate Investments

Module 4: Cash Management (domestic and international)
Speaker François De Witte / Consultant

  • Payments (Process, Tools)
  • Liquidity Management
  • Cash-Flow Forecasting
  • In-House Banking
  • Banking Relationship

Module 5: Trade Finance
Speaker: Benjamin Defays / Treasury Manager

  • General contact, cultural aspects
  • Why trade finance in treasury
  • Bank Guarantees, Burgschafts, Surety Bonds, Letters of Credit, Cash against Documents
  • Alterative security instruments
  • Disruptive technologies

Module 6: Credit Control
Speaker: Anca Vasiliu / Counterparty Risk Manager

  • Concepts & Practices/Types of Credit Risks
  • Understanding Financial Statements and Ratios
  • Credit Scoring/Ratings – S&P, Bloomberg models
  • Collecting overdue receivables – setting priorities
  • Strategies dealing with overdue invoices
  • Debt collection services development

Module 7: Pension / Insurance 

  • General introduction on insurances and pensions
  • Typology of insurances
  • Risk management via insurances
  • Saving via insurances

Module 8: Compliance

  • International sanctions and their impact on transactions & overall business activities
  • Anticorruption (FCPA, UK Bribery Act)
  • EU competition law compliance
  • Drafting a contract (main considerations)

Module 9: Risk Management
Speaker: Patrick Verspecht / Group Treasurer

  • FX, Interests
  • Counterparties
  • Others (Reputation, etc…)

Module 10: Regulations / Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Emir, Mifid 2, Basle II and III,
  • Dodd Frank, GDPR, Fatca, Section 385…

Module 11: Treasury Accounting
Speaker: Quentin Bodart / Senior Finance Engineer

  • Accounting for Derivatives
  • Hedge Accounting, IFRS9 (all from a treasury side)

Module 12: Technologies
Speaker: Patrick Verspecht / Group Treasurer

  • New Technologies
    • Blockchain, Crypto-currencies, Smart Contracts
  • Treasury Console (Bloomberg, Thomson Reuters)
  • TMS, Fintechs

Module 13: Cyber Fraud

  • Why Cyber fraud needs to be considered as a major risk
  • Identify the consequences of a cyberattack
  • Main fraud schemes
  • How to protect against fraud

Some homework might be proposed for some modules, there will be continuous control in the form of intermediary exams (under the form of QCM) and a final exam will be sanctioned by an attestation delivered by ATEL (The Luxembourg Association of Corporate Treasurers).

There might also be one or two “extra-activity”, such as a visit in a bank trading room or/and a special guest speaker addressing the cursus participants on a specific subject (still to be defined, optional events).

Target Audience

Anyone willing to acquire an in-depth knowledge in corporate treasury and wishing to exercise this knowledge in practice.


  • Basic background in finance or accounting
  • For the Advanced Excel workshop, a preliminary (good) knowledge in Excel is required

Course Material

The course material can be downloaded free of charge via your portal the day before the start of the course (download the Client Portal User’s Guide here).


At the end of the programme, the participants will receive a “Certificate of Attendance” delivered by the House of Training, and an attestation of “Exam Success Pass” delivered by ATEL.

In order to get certified, an 80% rate of attendance and a 60% average score on the examinations are required.

The participants will also receive a one-year free membership to ATEL (www.atel.lu) giving a number of advantages.

Register here







How to Find the Right FX Provider

03-09-2020 | treasuryXL | XE |

In this final installment of our blog series on foreign exchange risk management for your business, we address one of the most important steps in developing an effective risk management strategy—> finding your FX provider.

As we close out our blog series on improving your business’s foreign exchange risk management and avoiding costly mistakes, it’s come time for us to answer one last lingering question, the question that’s had a recurring presence throughout our blog series.

How do I find the FX provider that’s right for my business?

It’s a question that’s come up throughout our series of blogs. From avoiding inflexible solutions to taking care of tricky regulatory compliance, nearly every piece of risk management advice has come down to finding the holy grail FX provider, the one that understands your business and its operations and has the expertise and solutions to address your unique risks.

Now, we’re finally going to talk about how to find this perfect provider.

The importance of shopping around in foreign exchange

The biggest mistake you can make in your search for the perfect provider? Not searching at all.

It can be tempting to just stick with your friendly local bank, or go with the first provider you speak with just for the comfort of having a dedicated provider. But you don’t want to do that. Keeping a narrow focus (and not shopping around) can lead to you missing out on:

  • Better exchange rates

  • Better or more varied service opportunities from working with a specialist provider

  • A more targeted, strategic approach to your foreign exchange.

Now that we’ve established that you should be exploring your options, it’s time to start shopping. But where do you start? What kinds of things should you be keeping an eye out for in your search?

What should you look for in your FX provider?

Ultimately, the right FX provider for you will be the one who can help you to streamline your business operations to make international payments while minimizing regulatory delay, human error, and risk exposure. In order to do that, they’ll need to understand your business, understand what you do, and be able to work with you to directly address your risks and other issues without compromising your business in the process.

When meeting with providers, we encourage you to keep an eye out for (and ask about) the following things.

  • Competitive, but realistic solutions. Don’t fall for the hype. If an exchange rate sounds too good to be true, it almost certainly is. Additionally, some providers may encourage you to speculate in the currency markets or tell you that they can help you to second guess rate movements. In reality, it’s impossible to know how the markets will move, and you should be wary of anyone claiming that you will always be on the right side of market motion.

  • A provider that understands your needs. You shouldn’t be the only one asking the questions. Your provider should be doing everything they can to understand your business, what you do, and how you do it. A provider that doesn’t take the time to learn about your business will not be able to offer the quality of service that you’re looking for.

  • Bespoke solutions to fit your needs. Continuing from that last point, a provider that only offers a generic service will only be able to provide generic protection. As we mentioned in our article last week you should look for a provider with solutions that meet all your foreign exchange needs, including helping you to manage future risk more effectively. Don’t settle for anything less.


Get in touch with XE.com

About XE.com

XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.

Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.

Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multi billion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.

Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.



Visit XE.com

Visit XE partner page




The global FX market, do you want to be a part of it?

02-09-2020 | Niki van Zanten

The straightforward answer is ‘No’. Unfortunately, saying ‘No’ does not imply that you don’t play a part in the global casino named: The FX market. It could be a sane procurement, sales or investment decision that brings you a seat at the table. Unless you are a in this market to make commissions or in some rare instances a (successful) prop trader, you will most likely lose more then you gain when willfully playing the game.

The FX market is by far the largest market in the world easily exceeding equity, bonds markets or any other asset class. Estimates in daily turnover are north of 6 Trillion USD. The vast majority of trades have a USD leg and EUR is coming at a good second place making EURUSD the most traded pair. Comparing this to the Global Domestic Product (GDP) of let’s say 140 Trillion USD as a ballpark figure, the FX market monthly turnover exceeds the world’s annual GDP. Taking into account that not all global GDP related transactions in the world have a FX component, this tells us that a large percentage of the FX are not real money flows.

So what are they? For a part these are institutional investors like pension funds. Pension funds can choose to allocate in different currencies, but the more likely explanation is that a large part of the FX transactions are of a more speculative nature. Hedge funds for instance do not have a functional or group currency and therefore can freely take currency decisions when allocating assets.
So in summary, the largest market place in the world is driven by forces which are extremely difficult to predict by any form of scientific research or even looking into economic data like monetary flows. Not to imply that economic indicators and central bank policy don’t have its influence, but in the end, a market is primarily driven by supply and demand and there is vast speculation in buying and selling of currencies.

Switching to the corporate point of view, companies usually don’t want to be a part of the FX market. It’s the same story as you might wish to procure and/or sell in different currencies than your own for a variety of reason. It’s an open door to mention that this can be very beneficial but all cost need to be factored correctly before taking a decision. With Foreign Exchange this can be a difficult task and considering what is mentioned above, the FX market does not actually make things look better.
A basic example of why it’s hard to get a grip on the currency markets is available when looking at CNH (offshore RMB) forward markets in 2015 and 2016. Although there are structural differences between CNH and CNY in both spot and outright forwards, typically the pricing is at comparable levels (for the majority of us, at least the large China interest does not apply this). Yearend brought a liquidity squeeze and the forward markets showed huge spikes in volatility as well as extreme differences between the CNH and CNY yield curves. There are many more stories like this to share and recently even G10 doesn’t seem excluded from Emerging Market (EM) like volatility, particularly when looking at Brexit and the Swiss Franc peg release of January 2015.

So a few basic assumptions can be helpful when participating in the FX market for real money requirements

• Don’t think you can predict or beat the market
• Price in risk
• Risk can go both ways but spreads are by definition a cost
• If you choose to hedge make sure you get your exposure right and hedge to mitigate this exposure (in other words don’t use derivatives which don’t offset the hedged item)
• Be aware there is a difference between advise on a financial product and actually risk mitigation on a more holistic basis
• It’s hard to beat years of market experience, don’t hesitate to reach out to seasoned professionals who will prevent you from making expensive mistakes

Hope this was a good read and for any questions or feedback please share and keep things interactive.


Niki van Zanten

FX specialist


Partner Interview Series | A deeper dive with Paul Simpson from Kyriba

01-09-2020 | treasuryXL | Kyriba |

In the upcoming weeks, you will get inspired by the treasuryXL partner interviews. Each interview will be different, the only thing we can recommend: Learn, Discover and Enjoy!

The first interview to start with is Kyriba where we will take a deeper dive into their recent hosted webinar about Mitigating Fraud With a Corporate Payment Hub.



Paul Simpson is Strategic Payments Director at Kyriba who also was one of the presenters during the webinar in July.

We asked him 9 questions and 3 bonus questions. Let’s go!


1. Can you tell us about the Corporate Payment Hub and your specific role?

My role is to promote the Kyriba Payment Hub, to make customers and prospects aware that we also have a powerful payment module. Often people think of Kyriba for TMS, but we have far more to offer, for example an anti-fraud solution in addition to payments. As part of my role at Kyriba, I look at the constantly changing payment landscape to inform treasurers and finance teams of these changes, whether that’s regulatory or technological. The Kyriba Payments Hub detangles what I call the “ERP payment spaghetti”, streamlines global bank connectivity and format transformation, whilst providing companies with real-time fraud detection. This can also accelerate ERP cloud migration projects.

2. What is the core issue the Corporate Payment Hub aims to address and how does it differentiate it from the other players in the market?

Essentially a payment hub gives our clients a single, consolidated point of access across bank accounts, giving the ability to set up payments, define different payment types and provide notification of pending approvals. Kyriba provides this visibility by consolidating payment streams from different systems – ERPs, finance, treasury, legal, capital markets and decentralised teams, thus transforming dis-aggregated processes into a single source of record for all outgoing payments, all done with built-in fraud detection. We also, uniquely, support and maintain a “bank” of over 45,000 bank formats in-house via our bank formats team. This allows the payment hub to transform payment data into bank-specific file formats and connects directly with global banks via multiple protocols, including host-to-host, SWIFT and regional networks. Other providers build each bank format for each customer at a high cost and development time. The Kyriba payment hub is designed to work across different ERP solutions, whereas ERP systems will not work across other instances.

3. Can each ERP work with the Corporate Payment Hub also when you work with multiple ERP’s located in different countries?

Absolutely. The Kyriba payment hub is designed to work with multiple ERP systems across different countries.

4. What are the most common fraud scams that businesses are dealing with?

Fraudsters are trying to use the current crisis to their advantage. With people working from home, for example, they may attempt to ask finance to make payment to a new bank account – knowing the sign off process is not as robust as it was when teams were all together in the office.

5. What’s the difference in Fraud Scams before COVID19 and the time we live in now?

We have research that shows the number of fraud scam attempts is up by nearly a 1,000 times since Coronavirus. The finance sign-off process for making payments are defragmented as people are working from home. This is where the Kyriba payment hub can bring standardised workflows, sign-off and approvals together to help eliminate fraud

6. What critical elements of Fraud are often overlooked by businesses?

Businesses fail to use AI and machine learning in addition to rule-based technology and processes to reduce fraud. This is a key component of the Kyriba Payment Hub

7. What has been the best experience of one of your customers working with the Corporate Payment Hub?

We are able to cut the time and cost of a customer migrating their ERP solutions to the cloud, as we can handle all the payment connectivity and formats etc “out the box”, thus saving the company many 100,000s of Euros, and 6 months or more in time, whilst also providing and standardising work flow sign off processes etc.

8. What is, in your perception, the biggest benefit of a working with the Corporate Payment Hub?

True, real-time visibility of all payments, from all systems, in one place with enhanced fraud protection and built in work flow.

9. What is your best fraud prevention advice for businesses?

Prevention is always better than cure! I always preach this. Always use combined workflow and AI / Machine learning technology together – the best of both worlds.


Have you ever experienced a fraud scam yourself? If yes, how did it impact you?

I have never experienced a fraud scam myself, the protection I had in place alerted me to a potential scam and I took action.

How are you defending yourself against payments fraud?

Every payment has to be checked via a rule and AI/Machine Learning process.

How does the future of fraud prevention look like in your perspective?

Fraudsters are getting more sophisticated, with only 6% of Corporates using machine learning/AI, they need to use the latest technology or be left behind and suffer fraud.

About Kyriba

Kyriba is the global leader in cloud treasury and finance solutions, delivering mission-critical capabilities for cash and risk management, payments and working capital solutions.

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations.

Visit Kyriba

Large platforms mainly invest in stones: social value decreases

31-08-2020 | Lex van Teeffelen | treasuryXL

Due to the corona crisis, loan volume shrank by 37% for corporate loans with crowdfunding platforms. Unique, because since the foundation of crowdfunding platforms there has only been growth. The first half of 2020 was so bad that a number of platforms made use of the NOW scheme. Yet there is also good news. A number of platforms are growing rapidly. Five platforms have also been admitted to the SME Corona Guarantee Scheme. What are the main developments? And where are the largest platforms?

(Blog in Dutch)

Het goede nieuws

Het gaat een aantal platforms voor de wind. NLInvesteert neemt de koppositie over als marktleider in het eerste halfjaar 2020. Onderscheidend door de sterke risicobeoordeling en de lage default. Maar ook SameninGeld voor particulier vastgoedfinanciering en LenderSpender voor consumentenleningen groeien door.

Eindelijk toegang tot overheidsgaranties

Na veel lobbywerk in Den Haag is de kogel door de kerk. Ook crowdfundingplatforms kunnen overbruggingskredieten met staatsgaranties aanbieden. Het gaat om BMKB-Corona regeling tot 1,5 miljoen euro met een aflosvrije periode tot 18 maanden en een maximale looptijd van 4 jaar. Een aantal platforms heeft concessies moeten doen. Naast de crowd dienen ook professionele/grote investeerders mee te doen. De website van het RVO is wat traag met alle partijen te vermelden, maar de volgende crowdfundingplatforms zijn geaccrediteerd: GeldvoorelkaarVoordeGroeiOneplanetCrowdCoöperatie NLInvesteert en October. Vreemd genoeg krijgen ook de flitskredietverstrekkers Swishfund en Yeaz toegang tot de staatsgarantie. Die trekken ondernemers qua kosten en rente het vel over de neus. En dat met staatsgarantie!


Het Europees opererende platform October van Franse origine, is de grootste aanvrager van de platforms in de eerste NOW-ronde met 151K. Maar ook marktleider 2019 Geldvoorelkaar voelde de pijn en ontving 136K. De derde grootste aanvrager was DuurzaamInvesteren (Crowdinvesting BV) met een toegekend bedrag van 83K. Deze partij heeft onder meer de Triodos Bank als aandeelhouder. Flitskredietverstrekker Swishfund spant echter de kroon met 313K.

Het is natuurlijk toegestaan, maar het staat niet chic. Deze platforms behoren bepaald niet tot de kleintjes. Dat kleinere non-profit platforms als VoordeKunst en Kentau de NOW aanvragen, is meer vanzelfsprekend.

DuurzaamInvesteren krijgt navolging

Bij DuurzaamInvesteren gaat het al een tijd niet goed. Niet alleen scoort dit platform hoog op het aantal ondeugdelijkheden, ook blijft het volume achter bij de concurrenten sinds begin 2019. Een doorn in het oog is dat DuurzaamInvesteren proposities van de eigen aandeelhouders YardEnergie en Greenchoice plaatst. Hoe kan het platform daarbij objectiviteit garanderen? Helaas volgt aandeelhouder Lambert Kassing van KapitaalopMaat dit slechte voorbeeld op met deze propositie. Ook KapitaalopMaat kent weinig transacties met daarbij ook een hoge (loss giving) default. De aandeelhouder is tevens actief voor de Stichting Zekerheden KapitaalopMaat. Wederom ongewenste verstrengeling van belangen. Belanghebbenden kunnen melding doen bij de AFM.

Vastgoedtransacties zonder heldere risicobeoordeling

Waar de platforms voorheen vooral werkkapitaal verschaften, groeit nu de objectfinanciering – meer specifiek de vastgoedfinanciering – snel. Bijgaand ziet u een indicatief overzicht van de Onroerend Goed (OG) proposities van de drie grootste platforms (2020 YTD) op 18 augustus 2020 om 00.00 uur.

Tweederde of meer van de verstrekte leningen (in volume) is nu vastgoedfinanciering. Hoewel Geldvoorelkaar de meeste proposities post (66%), wordt zij in volume voorbijgestreefd door Collin Crowdfund en NLInvesteert. Dat investeerders wat te kiezen hebben blijkt uit de ranges in Loan To Value (LTV) en de geboden rentes. Op het eerste gezicht lijkt NLInvesteert het betere risico/rendement aan te bieden. Let wel, het aantal waarnemingen is beperkt. De proposities binnen en tussen de platforms wijken sterk van elkaar af. In een enkel geval wordt niet eens onderpand gevestigd, soms een tweede hypotheek (= lastig uitwinbaar), veelal een eerste hypotheek met (te) hoge LTV.

Er ontbreken veel indicatoren om OG proposties op waarde te kunnen schatten: de beoordeling van de locatie, de courantheid en verhandelbaarheid van het pand, de staat van onderhoud (binnen- en buitenkant), de kosten van achterstallig onderhoud of bouwkundige gebreken. Taxatierapporten worden niet bijgevoegd.

Investeren in vastgoed met eerste hypotheek is niet risicoloos. In een crisis komen meer bedrijfspanden leeg te staan. Daarmee daalt de waarde. Geen huurder, betekent sowieso een zeer lage waarde. Excecutieverkoop levert een fractie van de getaxeerde waarde op. Wachten op de juiste koper meer, maar gaat gepaard met doorlopende kosten. Bij particuliere woningen is dat risico minder groot. Maar in ontvolkte en sterk vergrijzende regio’s zeker aanwezig. Meer dan 65% LTV bij courante bedrijfspanden en 80% LTV bij particulier vastgoed voor investeringsdoeleinden is onverstandig. Vooral Geldvoorelkaar en Collin Crowdfund overschrijden die grenzen regelmatig. Geen van de drie platforms hanteert overigens expliciete pricingscriteria voor vastgoedproposities. Andere beoordelingscriteria zijn nodig.

Investeren in de reële economie of meedeinen met speculanten?

Naarmate er meer gehandeld wordt in particulier onroerend goed, zullen de platfoms meebewegen. Daar waar nieuwe panden en projecten worden gerealiseerd via aan-, ombouw en nieuwbouw, zie ik toegevoegde waarde. Daar waar ondernemers hun kosten gelijk kunnen houden met verwerving van het bedrijfspand niet. Investeren in stenen is – zeker nu – slecht voor de liquiditeit van een onderneming. Cash is King in crisistijd.

Maar wat is de toevoegde waarde van opkoop van particuliere panden? Die worden gesplitst of voor drie tot vijf personen ingericht. Huurprijzen worden flink verhoogd, stedelijke omgevingen worden onbetaalbaar voor starters en mensen met lage en midden inkomens. In plaats van honderden euro’s, stijgen de huren naar duizenden euro’s. Niet alleen het snel groeiende platform SameninGeld specialiseert zich hierin. Ook de grote platforms doen mee.

Economen in 17e eeuw noemden grond- en huizenbezitters de steriele klasse, omdat zij niet herinvesteren in directe economie en productiviteit. Adam Smith – schrijver van The Wealth of Nations – noemt hen zelfs parasieten, omdat zij “love to reap, where they never sowed”. Ook Nobelprijs winnaar Joseph Stiglitz, waarschuwt voor de ontwrichtende werking van de toenemende ongelijkheid en de accumulatie van kapitaal en bezit. En u kent vast de econoom Thomas Pikkety, die pleit voor het zwaar belasten van bezittingen en het licht belasten van arbeid?

Kleur bekennen

Met het verstrekken van overbruggingskredieten BMKB-C kunnen platforms hun rol herpakken. Banken laten steken vallen en beperken zich graag tot financieringen van 1 miljoen euro en meer.

Ik ben benieuwd waar de grotere crowdfundplatforms nu voor staan. Blijft het bij het oppikken van de restjes die de banken achterlaten? Zoals het er nu naar uitziet, lijken de grootste platforms veel op elkaar. Tijd voor fusies? Er mag wel wat meer kleur in het landschap komen*. Waar zit de toegevoegde waarde? Wat is hun Why en aan welke maatschappelijke doelstellingen dragen deze grotere platforms meetbaar bij?


Lex van Teeffelen

Professor Entrepreneurial Finance and Firm Acquisition

Become the next Partner Manager Treasury (m/f)

28-08-2020 | Treasurer Search | treasuryXL

Our Partner Treasurer Search is looking for a Result Oriented Partner Manager Treasury (m/f). The Partner Manager will have the following tasks and responsibilities;

  • Communicate with banks, consultancy firms, end clients and other relevant organisations in corporate treasury;
  • Increase successful cooperation with existing partners;
  • Identify and on-board new partners;
  • Liaise internal and external stakeholders and show results.

Ideal Partner Manager Treasury

The ideal candidate is smart, creative, inquisitive and very result oriented. Her experience brought her expertise in (corporate) treasury, banking and optimizing payment flows. She understands the need of working with colleagues who can do cold calling and complement this with modern partner management. It goes without saying she is an extrovert.

Our Client

Our client is a successful, international software company whose product makes the life of many corporate treasurers much easier. Their track record is already impressive and they want to move forward. Marketing and sales is done in a very modern and structured way.

Remuneration and Process

There is a broad salary bandwidth. The candidate who brings more can claim more. Our client has various offices in the region, home office work is facilitated.

The Treasurer Test might be part of the recruitment process.

Contact person

Pieter de Kiewit
T: (0850) 866 798
M: (06) 1111 9783
E: pdk@treasurersearch.com


Home Office / DACH / BeNeLux


treasuryXL announces collaboration with Refinitiv, one of the world’s largest providers of financial markets data and infrastructure

| 27-8-2020 | treasuryXL | Refinitiv |

VENLO, The Netherlands, August 27, 2020 – treasuryXL, the community platform for everyone who is active in the world of treasury, and Refinitiv, one of the world’s largest providers of financial markets data and infrastructure today announced the signature of a premium partnership.

The collaboration aims at offering a continuous flow of treasury content, making treasury knowledge available. This collaboration includes:

  • collaboration on messaging, content production, and visibility
  • mutual distribution on select items of interest
  • collaboration on larger themes: event promotion, speaking and experts contribution, publications

With this collaboration, treasuryXL and Refinitiv are striving to make sure that treasurers are always up to date with the latest news and events in their field.

According to Kendra Keydeniers, treasuryXL “We are very excited to welcome Refinitiv in our community. Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. Refinitiv will have a prominent role in the Treasury Topic environment with coverage in corporate finance, risk, cash management, working capital management & treasury software which is a considerable contribution to our ecosystem.”

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About Refinitiv
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.

For more information visit: www.refinitiv.com

Xe-Pert Webinar Market Movers: Currency Influencers with Jason Schenker

| 27-08-2020 | XE.com

Webinar and Q&A | Thursday September 10, 2020 at 4.00 pm BST / 10 am CDT

As we approach the last quarter of 2020, join the Xe team and Market Futurist and Economist Jason Schenker, as they provide their thoughts on the current market outlook for the remainder of the year.

There are a number of key planned events happening over the next few months which could impact the currency markets in the United States and Europe, these include; the Presidential Election in the US, trade agreements and Brexit negotiations. With a continued focus on economic recovery as the markets react to a possible ‘second wave’ of Covid-19, the latest Xe webinar examines the potential scenarios and outcomes from these events and how businesses that have a commercial exposure to the currency markets can look to protect their bottom line from further impacts and protect against uncertainty.

About Jason:

Jason Schenker is the Chairman of The Futurist Institute and the President of Prestige Economics. He has written two-dozen books on emerging technologies, business strategy, finance, and the economy. Bloomberg News has ranked Jason the #1 forecaster in the world in 25 different categories, which is why executives, corporate boards, industry groups, and central banks rely on his financial market research.”




Date, time and registration

Date: September 10, 2020

Start time: 4.00 pm BST / 10 am CDT

Register here


Do you a question that you’d like one of the XE Experts to answer during the session? Please provide details and XE will endeavour to respond during the session. You can submit your question at the registration page.