Treasury Prime Raises Series B to Scale BaaS Platform
On May 12, 2021, Treasury Prime announced the close of its Series B funding round to accelerate growth of its banking-as-a-service platform. The company connects fintechs and businesses with partner banks through API-based infrastructure, enabling embedded finance use cases. As part of its expansion, Treasury Prime added new bank partners including Pacific Western Bank and Piermont Bank to its network.
The platform allows fintechs to access banking services such as accounts, payments, and lending through a unified API layer. The funding will be used to scale operations, expand the bank partner network, and enhance the platform's capabilities. Specific financial terms of the Series B round were referenced in the announcement but full details were covered in the company's newsroom.
The raise underscores strong investor confidence in the BaaS middleware layer that connects banks and fintechs.
- Growing investment in BaaS middleware platforms reflects demand for turnkey infrastructure connecting fintechs to bank charters
- Expansion of Treasury Prime's bank partner network increases competition among BaaS providers for fintech clients