Series B-D fintechs and embedded companies running $20M-$150M in monthly flow across 3+ entities with zero treasury staff.
Every few years someone tries to fix mid-market treasury. They stop at visibility because moving money requires compliance work nobody wanted to do.
AI broke the cost curve. TreasuryPath goes live in 2 weeks for under $50K. 30-day value proof or you shouldn't use us.
But AI can't work without the data. That's the wall nobody has solved. Until now.
The Problem
The Solution
We are what replaced them.
Multi-rail ingestion. Aggregation. Validation to 95%+ accuracy. A cleaning layer built on 15 years of knowing where every integration breaks.
Without this, every AI treasury skill is a demo. With it, they replace the $150K/year analyst who used to do this manually. And they work on day one.
Multi-rail ingestion: Plaid, Quilt, SFTP, BAI2, host-to-host for the 40% of banks without clean APIs. ERPs via Rutter. Normalizes to 95%+ accuracy. The cleaning layer is ours — 15 years of knowing where every integration breaks.
100 encoded treasury workflows built from 15 years of embedded finance. Cash position accurate. Forecasts real. Every output traces back to a source — auditable, defensible, board-ready.
Payments. FX conversions. Sweeps. And the feature the TMS market has been missing for 20 years: instant intracompany transfers across banks — live in production today. Banks only move money within their own walls. TreasuryPath does it across all of yours.
⚠ Placeholder · Replace before sharing
Client quote to be added here — real, permissioned, attributed as "CFO, [anonymized company description]".
This card disappears when you send me the quote.
What We See (Today)
Client A sends ~$180K/month cross-border to Client B. At 50bps FX cost, that's ~$11K/year in waste we can eliminate through TPUSD settlement. Zero FX. Instant. Rewards both sides.
Specific regulatory and infrastructure timelines open a 24-month window. Miss it and the competitive landscape hardens.
Treasury agents work once. Then they ask for your bank balances, your AR aging, your payroll calendar — and the human is back in the loop. No validation layer. No policy controls. No audit trail. That gap is what we solve, and owning it before incumbents notice is an 18-24 month window.
ISO 20022: migration completes Nov 2026. Banks that don't adapt lose correspondent access.
FedNow: 1,400+ participating banks as of March 2026, instant settlement is table stakes within 18 months.
GENIUS Act: reshaping stablecoin issuer operations under federal oversight.
Stripe/Bridge $1.1B: rail consolidation is active. We build on top of it.
Concrete example
A multi-entity client hit a BAI2 parsing edge case in SVB's format. We encoded the fix. The next client with the same bank relationship onboarded 3 days faster. That pattern repeats 100× a year.
Competitors
Their products are static. A new client onboards into the same system as the first one.
TreasuryPath
The next client onboards into something better. An operating system for mid-market finance that writes itself.
Each step is trust-gated. Post-raise focus: Steps 0-2 in Year 1 (connectivity through payments), Step 3 in Year 2, Steps 4-5 in Year 3+ once data density supports it.
ERP, banking, AP/AR connected and validated. Foundation is set.
All cash in one place. Agent flags the anomaly the CFO already suspected.
Move $5K. Build confidence. Then $500K with one click.
Idle cash earning variable-rate rewards. After trust, not before.
Cross-border settlement. Zero FX cost. Instant. Rewards for both parties.
"We know your payment history better than any bank. Here's a facility."
What We Have Today
The unique moat
Instant cross-bank intracompany transfers — live in production today. Every TMS shows you the problem. Zero of them solve it across banks.
PROOF: A client moved $500K SVB → Chase in under 2 minutes last week. The same transfer takes 1-2 business days via wire, and no TMS at our price point executes it at all.
What the Raise Builds
REGULATORY
Sponsor bank (Q4 2026) + 5-10 state MTLs. We become the licensed operator. We hold client assets directly.
COMPLIANCE
SOC 2 Type II — auditor started April 20, cert expected mid-May. ISO 27001 to follow. Highest compliance posture in this market by design.
DATA
Once trust exists, clients connect ERP, banking, AP/AR — full financial picture. That's what powers the flywheel.
Revenue Model (both streams active today)
Unit Economics
Path
Honest Framing
Platform fee alone gets us to $840K ARR at 10 clients. FX is upside, not the plan. 60% of current GPV is domestic USD; cross-border grows materially as ICP expansion continues.
Timeline: 12-18 months post-raise with 1 dedicated sales hire. Target: 20 clients by EOY.
There's always a gap between Product and Treasury. It gets worse as companies scale. We've lived it from every angle.
At Gusto: launched Gusto Global (international contractor payments, 100+ countries) and Gusto Money (embedded banking, hundreds of thousands of cards issued). Previously sold CurrencyCloud's global payment rails to tier-1 banks; ran Finastra's treasury software and ACH engine GTM. Carried a bag selling to the exact CFOs we're selling to now.
Tech lead on Gusto Global's international payments infrastructure — shipped production integrations with Wise, Nium, dLocal, Airwallex, and Currencycloud. Knows where every bank and fintech API breaks at scale, because he's been on the 2am pager when they did. Together we sold the tools, used them at scale, and built the infrastructure banks always wanted but banktech never delivered.
Trust layer raise. Most competitors skip the compliance build — which is why they're stuck in read-only mode. We built the rails first.
$5M Use of Funds
Sponsor bank + 5-10 state MTLs. We become the licensed operator. We hold client assets directly. Own the rails.
SOC 2 Type II (cert mid-May) → ISO 27001. Highest compliance posture in this market by design.
Better ACH rails via Aeropay/AstraPay. Access to MMFs and T-bills via Atomic.fi. Payment governance layer: approvals, dual auth, full audit trail.
Sales, compliance/ops, engineering. With 1 sales hire: 20 clients by end of year and $1.1M ARR in 12-18 months.
TAM — Where We Play
Source: Census SUSB — ~45,000 US companies $30-200M in NAICS 52, 54, 45. ~30% have multi-entity or cross-border complexity.
Where We Are Today
$2M
MONTHLY GPV
Zero
CHURN
33%
CLOSE RATE
Every financial agent — regardless of which model powers it — needs clean, verified, auditable data to be trusted with real money. That infrastructure doesn't exist yet. We are building it.
Raising $5M to build the trust layer that makes this impossible to replicate.