Founded in 2020, by Enrique Esclusa and Lisa Wallace, Assemble is a compensation platform for teams to make informed decisions. Assemble empowers leaders to drive total rewards programs that are visible, collaborative, and strategic. Whether it’s making a new hire, running a merit cycle, monitoring pay equity, or enabling managers and employees, Assemble simplifies compensation to help teams motivate and retain their people. Assemble has raised from top VCs like Susa Ventures, Goldcrest Capital, Harlem Capital, and many more.
We sat down with Co-Founder and Co-CEO Enrique, to learn more about:
- The treasury challenges Assemble was facing before working with Vesto
- What Assemble looked for in a treasury management partner
- Why they chose Vesto to manage their cash and how Vesto has helped them
The Challenge – Diversifying in Uncertain Times:
When we first found Vesto, we had nearly all of our cash sitting in one checking account, undiversified, and earning no yield. Having all our cash sitting with one banking institution, exposed us to serious counterparty risk, which we later saw play out during the banking crisis in March.
Luckily, we found Vesto before the banking crisis unfolded, which allowed us to easily diversify our cash, earn yield and free us from bank counterparty risks. With so many startups not having a proper cash management practice in place, it’s great to see a partner like Vesto out there, helping companies get this right from day one.
Requirements For a Treasury Management Partner:
When we were looking for a treasury partner, there were a lot of things we had to look out for. We did a lot of research into the space, and spoke with our bank before trying anything out, but the must-have’s that we looked for, were: a maniacal focus on safety and risk management, an easy-to-use platform, and access to safe assets like US treasuries and money market funds. Among the platforms that we looked at, Vesto stood out as the perfect choice that ticked all the boxes.
Results – Diversification, Yield and Time Savings:
Teaming up with Vesto has been a game-changer for us. Not only is it great to actually earn yield and extend our runway, but having our cash properly diversified and managed really sets the stage for a healthy financial future and has helped us give our investors and employees more confidence in Assemble’s leadership and stewardship of capital.
On top of peace of mind, the Vesto product actually saves us quite a bit of time. The accounting integrations and automations, the ease of transferring money in and out, and their FP&A tool Pulse, has personally saved me precious time as a Founder.
All testimonials are from owners or employees of current Vesto customers. Customers have not or will not be compensated in any way when providing testimonials. This testimonial does not present any conflicts of interest between the customer and Vesto.