We are the treasury team for companies born with financial complexity.

The Dashboard Era Is Over

Every few years someone tries to fix mid-market treasury. Trovata raised $40M and built a read-only dashboard. Tesorio pivoted to AR. Cashforce got absorbed. Centime became an AP tool. The pattern: they stopped at visibility because moving money requires compliance work nobody wanted to do.

Kyriba moves money, but costs $500K to implement and only works for $500M+ companies. SAP, Oracle, NetSuite: same story. For companies under $200M, that math never worked. Bank-native tools (Chase CashPro, BofA CashPro) only show one bank's accounts. Ramp and Brex are spend management, not treasury.

AI broke the cost curve. We replace a 5-person treasury team with a system that knows 100 workflows, surfaces the reports that matter, and goes live in 2 weeks for under $50K. If we can't prove value in 30 days, you shouldn't use us.

TreasuryPath is the data foundation that used to be humans.

Every AI treasury tool hits the same wall. The skill is right about what to do — ask it to build a 13-week forecast, monitor covenant compliance, flag FX exposure — it knows exactly how. Then it asks for your bank balances, your AR aging, your payroll calendar.

That data used to live with a person. The treasury analyst who logged into 4 bank portals every Monday morning, downloaded the BAI2 file from SVB, the CSV from Mercury, manually keyed in the balance from the bank that still sends a daily fax.

AI replaced the execution layer. But the data layer — gathering it, normalizing it, keeping it current — that was still human. Until now.

Three Layers, Each Dependent on the Last

The data foundation makes the rest possible. Layer 1 unlocks Layer 2. Layer 2 enables Layer 3. Cut any layer and the others collapse.

"Why not just wire Claude to Plaid?" — Claude can't aggregate, clean, and validate data across 10 accounts at 4 banks to 95% accuracy. That's Layer 1. "Why not Kyriba?" — They don't have Layer 3 at your size, and their Layer 1 costs $500K to implement.

$2M Monthly GPV. Zero Churn. 33% Close Rate.

4 design-partner clients. 2 closes from 6 qualified conversations — 33% close rate on ICP-qualified leads. Current ACV: $24K at intentionally discounted design-partner pricing to maximize integration depth. At production pricing, the same client base represents $288K+ ARR.

Two of our 4 clients are paying each other. No bank sees both sides of that transaction in real time. We do. At scale: that visibility powers instant settlement, eliminates 50bps FX cost, and creates a closed-loop network no competitor can replicate.

Pipeline breakdown: 2 in late-stage procurement review (expected close Q2 2026), 5 in technical qualification, 3 in intro stage. Sales cycle to signed design-partner agreement is 45-60 days from first call. Zero churn across every client we've onboarded — not one has left since going live.

ICP is specific — CFO at a $30-80M company with multi-entity complexity or cross-border payments, within 90 days of a trigger event. That specificity is why the close rate is 33%.

Every Client Makes the System Smarter. Permanently.

Every client interaction trains the model. Each policy built, approval run, forecast generated, payment executed — the system ingests that logic. The next client onboards into something better than what the previous client started with.

This is different from a network effect. It's a knowledge effect. At 50 clients, our recommendations diverge from generic treasury advice. At 200, a new entrant would need to replicate years of encoded institutional logic to reach parity. Competitors' products are static. Ours compounds.

Two Windows. Both Closing.

The AI infrastructure gap. Teams are deploying agents to automate treasury analysis and reporting. It works once. Then the agent asks for the bank balances, the AR aging, the payroll calendar — and the human is back in the loop. There's no persistent data layer, no validation, no audit trail. We solve that. The window to own this layer before the incumbents notice is 18-24 months.

Rail consolidation + regulatory timing. Stripe acquired Bridge for $1.1B. Stablecoin infrastructure is being rebuilt. The ISO 20022 migration completes by November 2026 — banks that don't adapt lose correspondent access. FedNow hit 1,400+ participating banks as of March 2026. The GENIUS Act is reshaping how stablecoin issuers need to operate with federal oversight. Getting sponsor bank + MTL network in place before this regulatory landscape hardens is a structural timing advantage. In 24 months, that window is closed.

Six Trust-Gated Steps to Owning the Financial Relationship.

Each step is earned. Each one deepens integration and raises the switching cost. We naturally become the first call when anything financial moves.

The Trust Layer Takes 2-4 Years to Replicate.

What we have today: Founder-market fit built from 15 years of actual plumbing, not observation. Deep workflow integration creates real switching cost — when TreasuryPath is where the controller goes first every morning, migration back to manual is too painful to consider. We run actual operations: policies, approvals, payment execution, forecasting.

What the raise builds:

Regulatory. Sponsor bank partnership (targeting Q4 2026) plus 5-10 state MTLs. We become the licensed operator. We hold client assets directly. Most competitors skip the compliance build entirely — which is why they're permanently stuck in read-only mode.

Compliance. SOC 2 Type II audit started April 20, certification expected mid-May. ISO 27001 to follow. Highest compliance posture in this market by design — because CFOs at $50M fintechs demand it.

Data network. Once trust exists, clients connect ERP, banking, AP/AR — full financial picture. That's what powers the flywheel. Every client teaches the system something no competitor can buy.

Path to $1M ARR

Two revenue streams, both active today. Conservative path to $1M ARR with one sales hire.

Timeline: 12-18 months post-raise with 1 dedicated sales hire. Current GPV is 60% domestic USD — FX contribution grows materially as cross-border volume increases. The platform fee alone gets us to $840K at 10 clients; FX is upside, not the plan.

Design-partner ACV today: $24K across 4 clients ($6K avg). The gap to production pricing ($84K avg ACV) is the conversion we prioritize post-raise. We have zero churn and 33% close rate on ICP-qualified leads. The mechanics work.

Sold the Tools. Used Them at Scale. Built the Plumbing.

There's always a gap between Product and Treasury. It gets worse as companies scale. Product ships a new payment feature. Treasury has six months to figure out the cash, the capital, the flows. Treasury always loses that race. We've lived it from every angle.

$5M Seed at $30M Pre-Money

We're priced at $30M because we're selling the regulatory moat — not the current ARR. Post-raise, with sponsor bank plus MTLs, this becomes a regulated infrastructure play with barriers to entry that pure SaaS can't replicate. The trust layer takes 2-4 years to build. The window to get in before it's obvious is now.

The trust layer for agentic finance.

Not software for treasury management. The company that handles treasury — data aggregation, balance monitoring, policy creation, forecast building, issue detection, payment execution — all of it, with humans in the loop on every decision that matters.

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.

The TAM: Census Statistics of US Businesses shows ~45,000 US companies in the $30-200M revenue band across financial services, professional services, and tech-enabled commerce (NAICS 52, 54, 45). Our SAM assumes ~30% have enough multi-entity or cross-border complexity to need us — ~13,500 target buyers. At $72K ACV (platform fee at production pricing, pre-FX), that's a $970M wedge; with 40% FX/GPV uplift it extends to $1.4B. Adjacent roadmap expansion into cross-border settlement and embedded capital (steps 4-5) extends addressable market to the $40B+ global TMS + cross-border + working-capital-lending envelope.