Treasury Prime
Also a provider — view Treasury Prime’s profile →“Can a bank-direct BaaS platform survive — and become the operating system for fintech-bank partnerships — by aligning with banks rather than abstracting them?”
Founded2017
HQSan Francisco, CA
FoundersChris Dean
Total raised$70M+
Latest roundSeries C, 2023
IndustryInfrastructure / BaaS
The story
Founded 2017 as a BaaS API platform connecting fintechs to a small set of partner banks. After the post-2023 BaaS market shakeout, Treasury Prime shifted to a 'bank-direct' model — fintechs contract directly with the bank, with Treasury Prime as the software layer — and introduced OneKey for multi-bank deposit programs. Strategy now emphasizes embedded banking for enterprises and a partner marketplace layering KYC, payments, and accounting on top of the core platform.
Last 12 months
—
Product timeline
2017
Founded in San Francisco to build APIs connecting banks and fintechs.· banking
2020
Series A to bring banking APIs to market.· banking
2021
Series B; rapid growth in accounts and revenue.· banking
2023
$40M Series C; expansion into lending options and partner marketplace.· banking
2023
Launched international features (international wires USD, international KYC).· banking
2024
Launched OneKey multi-bank model for enterprise scale.· pivot
In the press
embeddedfinancereview.com ↗Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
The stack
8 layers disclosed in Treasury Prime’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Open banking
in the full report
Unified APIs
in the full report
Accounting
in the full report
Accounting gap: minor
10 more providers across 7 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.