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Embedded banking player Treasury Prime raises $40m

Embedded banking platform Treasury Prime has raised $40 million a Series C funding round led by BAM Elevate.

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Embedded banking player Treasury Prime raises $40m

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The Banc Funds Company, Invicta and existing investors Deciens, QED and SaaStr joined the round.

Treasury Prime's API suite and embedded banking products is used by firms to connect to a network of 16 banks, enabling them to offer a range of financial services.

The firm will use the new funding to build out its bank network, launch a marketplace offering and broaden its market presence.

Chris Dean, CEO, Treasury Prime, says: "Embedded banking is remaking and modernising the financial services industry.

"It provides banks lower-cost deposits, enhances product offerings and expands their footprint while enterprise clients benefit from increased satisfaction, higher retention and lower cost of capital."

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