Diligence memo · auto-generated · as of July 3, 2026
Treasury Prime Inc.
Treasury Prime Inc. looks over-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
Treasury Prime Inc. operates in Fintech, based in SAN FRANCISCO, CA, USA; Remote. Embedded banking software platform and marketplace
Sub-sector tags: API, B2B, Banking as a Service, Fintech, fintech.
Capital & rounds (filed)filed
Treasury Prime Inc. has raised $54M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $34M on 2022-09-02.
Most recent recorded round closed around 2022-09-02.
Valuation (modeled)modeled
Provath models Treasury Prime Inc. at approximately $491M (range $82M–$1.2B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.80× the median modeled value of Series B Fintech companies in 2022–2024 (14 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 16 months.
Last raise 3.8 yr ago; this sector typically re-raises about every 12 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 1.7× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 97% of Fintech peers (1063 compared).
Modeled value ranks above 96% of those peers.
Closest niche peers: PayMongo Inc., Advisor Credit Exchange, LLC, Butter Payments, Inc., Apto Payments, Inc., Nomba.
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.