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Knurla passes $4 billion in client reserves
Eighteen months after our first sweep, more than 1,400 companies keep part of their runway with us. Here is what they taught us.
Written by
Maya Okafor
CEO and co-founder
Rates and figures are as of the date of publication. Nothing here is investment advice.
What the number means
Four billion dollars sounds like a milestone for us. It is really 1,412 finance teams deciding that cash sitting in checking should earn something, and trusting us to hold it in their name while it does.
The median client keeps two months of operating expenses in their bank and sweeps the rest. Nobody has waited more than a day to get cash back, and 97 percent of withdrawals landed the same afternoon.
What comes next
This quarter we are shipping approval rules by counterparty, a read-only seat for outside accountants and a holdings export that drops straight into the three most common audit tools. Everything we build starts with the same question: would a careful controller sign off on this?
Questions about this note?
Our treasury team answers the phone on weekdays from 8am to 7pm Eastern, and the people who write these notes are on that team.
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