The new capital will be used to accelerate go-to-market programs and to expand the company's sales, marketing, and engineering teams.
The company has brought on new bank partners including Pacific Western Bank, which also participated in the funding round, and Piermont Bank, and now has more than 50 fintech customers.
Earlier in 2021, Treasury Prime announced a partnership with Marqeta, a 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.
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