Modern Treasury Raises Additional $50M In Second Close of Series C

Modern Treasury, a San Francisco, CA-based software platform for companies of all sizes to move money, raised $50m in the second close of its Series C funding round with a valuation of more than $2 billion.

Backers included SVB Capital and Salesforce Ventures, as well as new investors Artisanal Ventures and NewView Capital.

The company, which has raised an $85m first close in October, intends to use the funds to continue to expand operations and its business reach.

Founded in 2018 by Dimitri Dadiomov, CEO, Modern Treasury provides payment operations software for companies, enabling teams to move and track money, and automate the full cycle of money movement—from payment initiation, through approvals, to reconciliation. The company offers an API into the banking system, as well as software to support finance and treasury teams. This automation enables companies to build and scale innovative products, manage payments via dashboard or API, and automatically reconcile cash across multiple bank accounts. Customers now reconcile more than $2.8 billion per month using the platform.

The company serves companies in the most important sectors of the economy, such as healthcare, real estate, and finance. Customers include fast-growing companies such as Gusto, TripActions, and Marqeta.

FinSMEs

30/03/2022