Modern Treasury: Raises $85M in Series C Funding

Modern Treasury Raises $85M in Series C Funding

• Modern Treasury, a San Francisco, CA-based payments operations software provider, raised $85m in Series C funding
• The round, which brought Modern Treasury’s valuation above $2B, was led by Altimeter Capital, with participation from existing investors Benchmark and Quiet Capital
• The company intends to use the funds to expand operations and its business reach and broaden its product suite
• ModernTreasury provides payment operations software for companies, enabling teams to move and track money
• The company offers an API into the banking system, as well as software to support finance and treasury teams, so that each step of the payments operations process is automated
• This enables companies to build and scale innovative products, manage payments via dashboard or API, and automatically reconcile cash across multiple bank accounts