Treasure
Also a provider — view Treasure’s profile →“Can a SEC-registered cash management adviser become the embedded treasury-yield API for SMB-facing platforms?”
HQScottsdale, AZ
FoundersSam Strasser
IndustryFintech / Investment
The story
Treasure began as a direct-to-business automated cash management platform helping SMBs earn yield on idle cash via SEC-registered advisory services. In summer 2023, the company pivoted toward embedded finance, launching the Treasure API so other platforms could offer cash management (money market, T-Bills, TIPS, managed income) to their own SMB customers under a white-label model. Brokerage is provided by Apex Clearing; banking partnership with Grasshopper Bank powers the deposit and payments layer.
Last 12 months
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Product timeline
2022
Partnered with Grasshopper Bank for BaaS-powered FDIC-insured deposits and payments capabilities.· banking
2023
Launched Treasure API to pivot from direct-to-business to embedded finance for SMB platforms.· pivot
2024
Expanded API product suite (businesses, portfolios, transfers, bank accounts).· pivot
Regulated entities
1
regulatory licence held by Treasure
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Treasure’s embedded-finance stack
Money movement
Banking / BaaS
in the full report
Open banking
in the full report
Sponsor bank
in the full report
Accounting gap: significant
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.