Treasury Prime Named to the 2021 CB Insights Fintech 250 List of Top Fintech Startups
NEW YORK, October 5, 2021 — CB Insights today named Treasury Prime, the leading Banking as a Service (BaaS) company, to the fourth annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.
Treasury Prime connects banks and fintechs through an API so developers can start building in minutes and launch in days. Fintech companies have transformed the financial services landscape and this has created an opportunity for chartered banks to reposition themselves in order to play a new and crucial role in this market: providing fintech and embedded finance companies with access to their infrastructure and unlocking new sources of revenue. Treasury Prime sits at this intersection: connecting banks and fintech companies. With Treasury Prime, fintech companies can get to market fast because they have a direct relationship with both their bank partner and with Treasury Prime who are fully committed to the success of their business.
“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal. “After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We're excited to see how these fintech startups disrupt and transform financial services in the years ahead."
“Being named to the CB Insights Fintech 250 List is a testament to the dedication and passion of the Treasury Prime team to reimagine the banking and fintech ecosystem,” said Chris Dean, CEO, Treasury Prime. “Since Jim Brusstar and I founded Treasury Prime four years ago, we’ve seen incredible momentum with our bank and fintech clients, and what’s been the most satisfying is to see the innovation they are bringing to the American banking system together. We’re building a network, and this is what success looks like.”
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees.They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Treasury Prime’s Achievements:
- Founded in 2017, Treasury Prime’s mission is to connect banks with fintech companies and bring Banking as a Service (BaaS) to new levels.
- In 2021, the company raised $20M as part of its Series B co-led by Deciens Capital and QED Investors and with participation from SaaStr Fund, and Susa Ventures.
- Earlier this year, Treasury Prime announced a partnership with Marqeta, the global modern card issuing platform, that enables fintechs to manage the entire card lifecycle using the same Treasury Prime API they use for every other banking service, and to use Treasury Prime for program management services including network agreements, BIN management, fraud detection tools, and custom card design, printing, packaging, and shipping services.
- Clients include over 50 leading fintech customers, as well as prominent banks such as BankProv, Lending Club and Piermont.
Fintech 250 2021: Investment Highlights
- Unicorns: 118 of the 250 companies (47%) are valued at or above $1B as of their latest funding round
- Funding trends: In 2021 year-to-date (YTD), these 250 private companies have raised $40.3B in equity funding across 275 deals (as of 9/14/21)
- Mega-rounds: Since 2020, there have been 178 mega-round ($100M+) equity investments to this year’s Fintech 250, with 138 of them in 2021 YTD
- Global representation: 36% of the 2021 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (25), followed by India (12). This year’s winners are based in 26 countries, including France, Brazil, Germany, Indonesia, and Nigeria.
- Top VC investor: Ribbit Capital is the most active investor in this year’s Fintech 250 companies, having invested in 62 deals since 2016. Since 2019, Ribbit has participated in 41 deals with this cohort of companies, including to Nubank, Uala, Brex, Vouch, Razorpay, and BharatPe. Tiger Global Management and Accel were close behind with 57 and 55 deals, respectively.
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
About Treasury Prime
Treasury Prime is the leading Banking as a Service (BaaS) company that connects banks and fintechs through an API so developers can start building in minutes and launch in days. Treasury Prime’s full integration into core banking systems gives developers access to a wide range of banking services from opening accounts to making payments to issuing cards. Treasury Prime is backed by Deciens Capital, Nyca Partners, Pacific Western Bank, QED Investors, SaaStr Fund, Susa Ventures, and Y Combinator. Developers can start building today at https://developers.sandbox.treasuryprime.com/. For more information, visit www.treasuryprime.com.