Treasury Prime, the API platform provider based out of California announced the raising of $9 million in Series A funding round. Treasury Prime provides API platforms to Fintechs and banks. This funding round was led by Amias Gerety of QED Investors. It also witnessed the participation of Hans Morris of NYCA Partners and Jason Lemkin of SassStr. This funding was built on the previous seed round of the company of $2.5 million, which now brings the total funding to $11.5 million to date.
The gap between the modern digital services that are needed by the fintechs and the legacy banking technology is bridged by Treasury Prime. It is empowering the future of the banking industry by providing banks the capability of delivering a modern interface to the legacy backend architectures. Treasury Prime, therefore, supports the banks in growing further and makes the fintechs capable of offering secure services of digital banking to their users.
The platforms of this company are not here to replace the existing systems, instead, they are put in place to act as a layer of communication between the fintech partners and banking systems. The workflow automation of this platform helps in reducing the cost of expansion of services into newer markets.
Chris Dean, co-founder, and CEO of Treasury Prime expressed the delight of the team of the company to have grown so much. He also stated that this newest round of funding will serve as a testament to the success as well as the confidence of the company in the future. The company is thrilled to support the growth of banks and make additional deposits with new customer bases as well as to support the growth of fintech companies and help them find homes at organizations that are best suited to their unique needs.
The company is built with the aim of modernizing the entire banking tech stack.
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Aashish Yadav, Content-Editor, FintecBuzz
Aashish is currently a Content writer at FintecBuzz. He is an enthusiastic and avid writer. His key region of interests include covering different aspects of technology and mixing them up with layman ideologies to pan out an interesting take. His main area of interests range from medical journals to marketing arena.
