MODERN TREASURY

Dimitri Dadiomov, Sam Aarons and Matt Marcus met while working at LendingHome, a real estate lending startup. Part of their job was pushing large amounts of money around, and it was miserable.

Bank websites, manual transfers, endless reconciling to make sure the numbers matched. They realized this was not just their problem.

Almost every company that moves money faces the same mess, and nobody had built good software for it. So in 2018 they left, went through Y Combinator, and started Modern Treasury.

Modern Treasury sells software and a single connection, called an API, that lets a company move money and keep track of it. Instead of logging into five different bank portals, a business plugs into Modern Treasury and can send bank transfers, wires and instant payments from their own product.

It also keeps a clean ledger of every dollar and automatically checks that money sent matches money received. Companies pay to use it, usually based on how much they use it.

It sells to businesses, not to consumers.

The Payments product is the core, a single API to move money across banks using ACH, wires and instant rails. The Ledgers product is a database that tracks every transaction in one trusted place so a company always knows where its money is.

There is also automatic reconciliation, virtual accounts, and built-in compliance checks. In early 2026 it launched an integrated payment service that handles both regular dollars and stablecoins through the same system.

Modern Treasury went after companies that move huge volumes of money and would feel the pain most. Lenders, real estate platforms, insurers, payroll companies.

Once a business builds its money movement on top of Modern Treasury, ripping it out is a giant headache, so customers tend to stay and grow. It landed a strategic investment and partnership with Salesforce, which opened doors to bigger enterprise clients.

More recently it pushed into stablecoins, adding software to move both regular dollars and digital dollars through one system.

Modern Treasury sells unglamorous back-office software, and that is a crowded, competitive space. It is up against banks, older enterprise software, and newer fintech infrastructure players.

Convincing a big company to route its actual money through your software takes serious trust, long sales cycles and airtight reliability. One bad bug in payment software is not a small thing.

And after raising at a $2 billion valuation in a frothy 2021 market, it now has to grow into that price during a much tougher funding climate.

Benchmark, one of the most respected venture firms in the world, led the $10 million Series A in 2019, which is a strong early stamp of approval. Altimeter Capital then led both the $38 million Series B and the $85 million Series C, the round that pushed the valuation past $2 billion in 2021.

In 2022, Salesforce Ventures and Silicon Valley Bank added another $50 million, and the Salesforce tie brought enterprise reach, not just cash. Y Combinator backed the founders from the very start.