Treasury Prime, based in San Francisco, has announced a USD 40 million Series C funding round, which is being led by new investor BAM Elevate. Since its launch in 2017, Treasury Prime has raised roughly USD 73 million.
Along with previous backers Deciens, QED, and SaaStr, the financing also included Banc Funds and Invicta. The business asserts that it can assist FinTech startups with a variety of services, such as money transfers, risk reduction, and access to the infrastructure of a chartered bank.
The company intends to use its new capital to continue expanding its multi-bank network, which currently consists of 16 banks, and new integrated partner marketplace, as well as to create new products and services, such as lending options.