Treasury Prime, a U.S.-based API banking platform, announced on Tuesday it secured $9 million through its Series A funding round, which was led by Amias Gerety of QED Investors with participation by Jason Lemkin of SaaStr and Hans Morris of NYCA Partners. The company revealed that the round builds on its previous $2.5 million seed round, bringing the total funding to $11.5 million.
Founded in 2017, Treasury Prime states it builds APIs that allow both banks and their corporate customers to automate their banking operations. The company noted its plan is to modernize the entire banking tech stack and bring the banking industry into the 21st century. It also wants to make it easier than ever before for fintechs to partner with a bank to support their innovative new products and back-office automation.
“We directly integrate with and extend banks’ Core Banking Systems, allowing us to provide services that other banks and API providers can’t.”
Speaking about the investment round, Chris Dean, Co-Founder and CEO of Treasury Prime, stated:
“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.”
Amias Gerety, Partner at QED Investors, then added:
“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.”
Treasury Prime is planning to use the funding to continue the growth and development of its platform and products.