Modern Treasury
Also a provider — view Modern Treasury’s profile →“Can one API unify every money-movement rail — banks, cards, real-time, cross-border, and stablecoins — for enterprises that need to build payment products?”
Founded2018
HQSan Francisco, California, United States
Total raised$183M
Latest roundSeries C, $135M
IndustryInfrastructure / Payments
The story
Modern Treasury started as a payment operations platform providing an API and dashboard over corporate bank accounts (ACH, wire, RTP, FedNow) with automated reconciliation and a proprietary ledger. It has since expanded into cross-border/FX, lending infrastructure, and stablecoin (USDC) rails, positioning itself as unified payments infrastructure for both fiat and stablecoin money movement. The platform is used by embedded finance companies (e.g., Check for payroll) to launch products faster.
Last 12 months
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Product timeline
2018
Modern Treasury founded to build payment operations infrastructure.· founding
2023
Expanded Reconciliation Engine to support card processors alongside bank rails.· product
2025
Launched stablecoin (USDC) payment support alongside ACH, wire, RTP, FedNow in a unified API.· product
The stack
3 layers disclosed in Modern Treasury’s embedded-finance stack
Money movement
Ledger
in the full report
Lending
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.