Quild Minicorn #84: Treasury Prime

This is the Quild Minicorn, highlighting one future of work minicorn daily - early-stage startups with statistically significant signals of becoming a unicorn.

Treasury Prime is a Banking-as-a-Service company that connects banks and FinTechs through an API. Its 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.

Founders: Chris (CEO), Jim (President)

Signals:

1. Repeat exited founder

   1. Chris co-founded Merced Systems (sold for $200 million) and Benefitter (acquired by Health Markets)

2. Venture-backed experience

   1. Both Chris and Jim worked at Standard Treasury (funded by Index Ventures and DCVC), which Silicon Valley Bank acquired

3. Top company alumni

   1. Jim was an engineer at Facebook for over 2 years

   2. Chris was a CTO for API banking in Silicon Valley Bank for over 2 years

4. Top university alumni

   1. Chris graduated from Caltech (BS)

   2. Jim graduated from University of Michigan (BS)

5. Fast team growth

   1. Grew 3.4x to 68 employees YoY

   2. And hiring a lot more

6. Accelerated financing

   1. Announced series A in 2020, series B in 2021

7. Midas list investors

   1. QED investors led series A & B

   2. Susa Ventures led seed

Till tomorrow, Kenn