Treasury Prime

Overview
News
FinTech Infrastructure?
Product stageSegments
Growth
?
Banking services
?

Treasury Prime offers a banking-as-a-service infrastructure platform for FinTech providers to offer banking services and connect to existing bank accounts. Through its APIs and tools, FinTechs can offer a range of banking services including bank account openings, customer onboarding, and enabling payments directly from bank accounts (ACH and wire transfers).

The platform also offers a range of compliance tools, including know-your-customer, fraud detection, and SOC 2 Certification. The company claims users can build compliance programs in weeks using the platform, which offers the customer control over the user experience, avoid using third-party compliance solutions, and guidance on regulatory requirements such as BSA/AML.


The company claims that its platform offers 5x faster integration time for FinTechs relative to building in-house. It also reports reductions for banks in deposit acquisition costs by 50% and an increase in the number of deposits by 30%.

Key customers and partnerships


Treasury Prime has also partnered with Alloy and Unit21 to improve their compliance, identity management, and fraud prevention solutions.

The company partnered with card issuing platform, Marqeta in February 2021, to expand its services by enabling FinTechs to manage the card lifecycle (including issuing, activating, and managing debit cards) using the same Treasury Prime API used for other banking services.

Treasury Prime also partnered with Plaid in November 2022, to enable its users to integrate with external fintechs available via Plaid, to improve the efficiency and convenience of payment acceptance.


Treasury Prime had over 50 FinTech customers as of May 2021.

Funding and financials

Treasury Prime’s revenue and accounts grew by nearly 400% and more than 450%, respectively, from May 2021 to February 2023. The company raised USD 40 million in Series C funding , led by BAM Elevate, in February 2023, to invest in expanding its multi-bank network solution, launching an integrated partner marketplace, and developing new products (such as lending solutions).

HQ location:
215 Kearny Street Suite B San Francisco CA USA
Founded year:
2017
Employees:
51-100
IPO status:
Private
Total funding:
USD 71.5 mn
Last Funding:
USD 40.0 mn (Series C; Sep 2022)
Last valuation:
-
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