Treasure
“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
SEC Registered Investment Adviser
US
Treasure Investment Management, LLC
The stack
Accounting gap: significant