Payments orchestration platform Modern Treasury has hit a $2 billion valuation after raising $85 million in Series D funding.
Built for businesses of all sizes, Modern Treasury helps companies to move, monitor and rconcile payment flows across multiple payment rails and banks from a single platform.
The company has experienced startling growth, from $10M per month two years ago, to $100M last fall, to over $2 billion per month today.
The latest funding round was led by Altimeter Capital, with participation from Benchmark, Quiet Capital, and other existing investors.
"We plan to use the capital to integrate more closely with our partner banks and invite more leading banks to work with us, expand our product footprint and deepen the products we offer, and add to our incredible team" states the company in a blog post. "We’re building on recent momentum in all three areas. Last month we shared that Shruthi Murthy joined us as our head of engineering and we opened our San Francisco office. Earlier this year, we launched our Ledgers product, partnered with Silicon Valley Bank, and added support for Global Payouts."