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Treasure Financial Secures $7.5M In Funding, Launches Embedded Treasury Management API
News provided byEIN Presswire
Aug 10, 2023, 9:15 AM ET
Treasure Financial Raises $7.5M In Funding Round Led by Ventura Capital and Introduces Embedded Treasure API.
SAN FRANCISCO, CALIFORNIA, UNITED STATES, August 10, 2023/EINPresswire.com/ -- Treasure Financial Inc., a leading innovator in treasury management technology, is thrilled to announce a new investment of $7.5 million in funding, led by venture capital firm Ventura Capital. The funding round also saw notable participation from Peter Thiel as well as other existing investors.
This additional investment will bolster Treasure's ongoing commitment to creating cutting-edge treasury management tools for businesses. It affirms the strong confidence investors have in Treasure's vision and the groundbreaking solutions they offer to organizations seeking to optimize their cash management.
“With $55 Trillion of cash sitting idle in small to medium businesses, SMB deposit accounts are one of the last unserved bastions of mega-capital. But, as we have recently witnessed, they can be the most vulnerable to systemic bank crises. Treasure Financial’s product significantly decreases risk while materially increasing revenue – every small and medium business should be using Treasure for treasury management. We were so impressed by the instant traction and hyper-growth of the Treasure product with all types of businesses. Treasure meets Ventura’s investment criteria of being a business whose offering and management team has proven traction, while offering something that the world needs” said Mo El Husseiny, managing partner of Ventura Capital.
Alongside the funding announcement, Treasure is also delighted to unveil its newest product, the Treasure API. This revolutionary product will enable companies to embed Treasure's world-class treasury management technology into their own products. With the Treasure API, any firm can now offer their customers an expanded suite of safe, high-return cash management options across government backed securities, money market funds, and fixed income products, all powered by intelligent algorithms.
"Today marks a significant milestone for Treasure," said Sam Strasser, Founder and CEO. "With this new round of funding and the launch of the Treasure API, we are continuing to push the boundaries of what's possible in treasury management with our embedded investment yield offering. We believe that businesses of all sizes should have easy access to the best treasury and investment tools available, while also keeping their funds safe and secure. As we’ve seen this year, safe and sound cash management is paramount for the health of a business, but the expertise and time needed to mitigate risk and achieve optimal returns is often out of reach for most businesses. The Treasure API meets the increasing demand for secure yield solutions, enabling integration across any product or platform. This is paving the way for customers to have unprecedented access to some of the most profitable and secure cash management vehicles on the market."
In the 18 months since its inception, Treasure has seen meteoric growth and now proudly serves hundreds of customers through its platform. This year alone, the number of businesses using Treasure has doubled, bringing the company to almost half a billion in funds under management. Notably, the income returns generated for customers via the Treasure platform have seen a fiftyfold increase over the last year. With the launch of the Treasure API, customer count and assets under management are projected to grow exponentially within the next year.
About Treasure Financial:
Treasure is a treasury and cash management platform that empowers businesses of all sizes to turn their idle funds into predictable, low-risk revenue streams. Treasure’s proprietary technology, including the Treasure API, democratizes access to advanced financial tools, optimizing returns and reducing risk. Learn more at www.treasurefi.com and www.treasurefi.com/api
About Ventura Capital:
Ventura Capital was founded in 2012 to provide investors with exposure to disruptive consumer technology and cybersecurity companies that are growing exponentially and approaching IPO. Through its global network and proven technology sector expertise, the firm is able to source and invest in exclusive and compelling private companies on a clear trajectory to IPO. To date, the firm has invested companies such as Spotify, Upgrade Inc, Delos, and Lyft, delivering high returns and building a strong reputation for ‘picking winners’ on behalf of its investors. Ventura routinely assists portfolio companies to drive revenue growth, while maintaining an arms-length distance from the operational authority of management teams. As of 31 December 2022, the firm had an average exit of 3.9x and generated 62% IRR across its investments.
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