Modern Treasury provides payment operations software and an API into the banking system that enables finance and treasury teams to initiate payments, manage approvals, reconcile cash, and report across multiple bank accounts. Its product suite includes Ledgers and Virtual Accounts, direct bank integrations, and support for multiple payment methods to let customers manage payments via dashboard or API. The company says customers now reconcile more than $2.8 billion per month, up from $1 billion a month a year ago, and drive more than $300 million in Real Time Payments annually. Modern Treasury positions itself as a one-stop shop for companies modernizing finance operations and aims to expand relationships with enterprises and banks. The company has opened offices in San Francisco and New York and is backed by investors including Altimeter Capital, Benchmark, and Y Combinator. Its platform is used by customers such as Gusto, TripActions, and Marqeta. Modern Treasury offers an API and software that automate the full cycle of money movement—from payment initiation and approvals through reconciliation—so finance and treasury teams can move and track money. Its platform enables companies to build and scale payment products, manage payments via dashboard or API, and automatically reconcile cash across multiple bank accounts. Customers reconcile over $2 billion per month on the platform, representing more than 20x year‑over‑year growth; volumes were $1 billion per month in March 2021 and $100 million per month last fall. Founded in 2018 and based in San Francisco, the company has been hiring (naming Shruthi Murthy head of engineering) and opened a new San Francisco office while planning a New York office to support its growing team. The company plans to broaden its product suite, deepen partnerships with banks, and help more customers modernize their finance functions. Passing a $2 billion valuation with this raise, Modern Treasury positions itself as payment infrastructure across sectors including real estate, healthcare, education, and financial services. Modern Treasury provides payments operations and treasury management software that automates the full cycle of money movement—from payment initiation and approvals to reconciliation—via a single app and API. The platform enables companies to instantly close books with Continuous Accounting, manage payments and banking through one place, and maintain complete cash visibility. It facilitates bank connectivity over APIs and supports Real-Time Payments (RTP), which already accounts for more than 6% of Modern Treasury volume. In 2020 customers reconciled $1 billion on the platform and reconciliation volume grew an average of 23% per month throughout the year; customers reconcile over $100 million each month using the product. The company plans to expand its suite of tools for finance teams across industries including healthcare, real estate, financial services, and marketplaces. Founded in 2018 and based in San Francisco, Modern Treasury positions itself to help companies modernize finance functions and reconcile the next billion dollars in payments. Modern Treasury provides a payments operations and treasury management platform that covers the full life cycle of company payments: initiation, approval, processing, reconciliation to cash, and accounting. The platform is accessible via web application or API and offers workflow customization, real-time data access, and tooling for both finance and engineering teams. Its newest product, Continuous Accounting, is designed to let finance teams instantly close their books on any day. The company serves customers across real estate, health care, financial services, and marketplaces. Modern Treasury was selected for Y Combinator in 2018 and was founded by Sam Aarons, Dimitri Dadiomov, and Matt Marcus; it is based in San Francisco. The company positions itself against manual finance processes and bank infrastructure by automating payment operations and reconciliation.

Total raised

$183M

Funding rounds

4

Latest round

Series C

Latest activity

Mar 2022