Treasury Prime, a U.S.-based API banking platform, announced on Wednesday it secured $20 million through its Series B insider funding round, which was co-led by Deciens Capital and QED Investors, with participation from SaaStr Fund, and Susa Ventures.
As previously reported, 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.”
The latest investment round comes just a little over a year after Treasury Prime raised $9 million through its Series A funding round. While speaking about the investment round, Chris Dean, Co-Founder and CEO at Treasury Prime, stated:
“We’re seeing an explosion of new fintech companies with brilliant ideas about bringing banking services to underserved consumer and commercial users. Our goal at Treasury Prime is to create a fantastic experience for fintechs to connect with banks so that they can bring these products to market as fast as possible. We are really pleased to welcome back our previous investors in this Series B. Raising an insider round is a testament to the progress we’ve made and the vision we’ve defined.”
Funds from the Series B round will be used to continue the growth and development of Treasury Prime’s platform as well as products.