Modern Treasury pulls in $50m

Modern Treasury, a software platform that helps companies of all sizes move money with confidence, has raised $50m in Series C funding.

The funding came from SVB Capital and Salesforce Ventures and new investors Artisanal Ventures and NewView Capital. This follows the first $85m announced in October, bringing the total raised in the round to $135m.

Modern Treasury said its software is forging the new category of payment operations, modernizing the way businesses move and track money, and making it easier to start companies and build new products that fuel growth in the most important sectors of the economy, such as healthcare, real estate, and finance.

Founded in 2018, Modern Treasury customers now reconcile more than $2.8bn per month using the platform, up from $1bn a month a year ago.

Dimitri Dadiomov, Modern Treasury CEO and co-founder, said, “By adding the leading bank for startups and the #1 CRM platform in the world to our list of partners and investors, we will continue to expand our relationships with enterprises that want to modernise money movement as well as the banks that support the world’s most innovative companies.

“Salesforce Ventures and SVB Capital have deep roots in the innovation ecosystem, and will be enduring and invaluable partners for Modern Treasury’s future growth.”

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