Payment Operations Platform Modern Treasury Secures $50M

Payments orchestration platform Modern Treasury has topped up its Series C funding round with an extra $50 million from SVB Capital and Salesforce Ventures.

The new money comes on top of the $85 million announced in October, valuing the company at more than $2 billion.

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Built for businesses of all sizes, Modern Treasury helps companies to move, monitor and reconcile payment flows across multiple payment rails and banks from a single platform.

Founded in 2018, the firm's customers now reconcile more than $2.8 billion per month using the platform, up from $100 million a month 18 months ago - a near 30-fold increase.

Katie Thiry, MD, Salesforce Ventures, says: "Modern Treasury is bringing needed innovation to the business-initiated payments space, which will help companies move money with confidence."

(Source: Finextra)