- Treasury Prime has announced that it raised $9 million in Series A funding. These are the details about the funding.
Treasury Prime has announced that it raised $9 million in Series A funding. This round of funding was led by Amias Gerety of QED Investors with participation by Jason Lemkin of SaaStr and Hans Morris of NYCA Partners. And this round builds on Treasury Prime’s previous $2.5 million seed round, bringing the total funding to date to $11.5 million.
Treasury Prime is known for powering the future of banking with an API that enables banks to provide a modern interface to legacy backend infrastructures. And this enables banks to seamlessly integrate with modern financial technology clients.
By integrating directly with a bank’s core banking system, Treasury Prime’s automation is able to drastically reduce the time and cost for onboarding new clients all while fulfilling the banks’ governance requirements. This way, banks grow with deposits from a new client base and fintechs can quickly offer secure digital banking services to their customers.
Through Treasury Prime, fintechs are able to digitally open and manage FDIC insured accounts at scale, make sophisticated payments, and interact with other systems — all with automated fraud detection and audit trails built right into their own integrations. Plus Treasury Prime eases the friction posed by interaction with legacy banking systems.
“We’re tremendously happy with our growth so far, and this latest round of investment serves as a testament both to that success and our confidence in the future. We’re thrilled to help banks grow and add more deposits with a new customer base, and to help growing technology companies find homes at institutions that suit their unique needs.”
– Chris Dean, Co-Founder and CEO of Treasury Prime
“Chris and his team have been working on this integration problem for years, and I couldn’t be more excited to be part of their future. The partnerships Treasury Prime is enabling between cutting-edge technology companies and financial institutions will bring about a new wave of innovation and entrepreneurship, while also fostering the stability and regulatory compliance needed for long-term success.”
– Amias Gerety, Partner at QED Investors