Announcing Our First $1B Month
Today, we are excited to announce that Modern Treasury reconciled over $1B in payments for our customers last month, a compound monthly growth rate of 37%.
Today, we are delighted to share that Modern Treasury reconciled over $1B in payments for our customers last month, up from our first $100M month last August. We’re thrilled to be growing at a 37% compound monthly rate as we serve new customers and see our existing customers thrive.
This milestone is a testament to our team’s efforts to build out our infrastructure, to enable new capabilities, and to offer faster bank integrations.
Software has a magical property to it, that once written, it can be used again and again, by ever more users [1]. It wasn’t so long ago that we were in Y Combinator and working out of an apartment on Montgomery Street, dreaming of a new product category, trying to make sense of the NACHA guidelines, and sending our first few payment orders. Here’s Sam unwrapping what was a most exciting use of our YC funds in the summer of 2018. The same basic code that was written that summer—with many iterations and refinements, of course—is now being run across hundreds of thousands of transactions per month worth $1 billion in reconciled volume. What a ride.
We’re also excited to share that we have enabled a Currencycloud integration and added Global Payouts, which will enable our North America-based customers to make multi-currency payments anywhere in the world. This new capability not only opens us up to new opportunities, it also benefits existing customers who can now use Modern Treasury to manage their international payment needs, whether those are frequent and ongoing or occasional.
Thank you to all our customers who take the time to give us feedback and ideate on products with us; you inspire us to keep delivering for you, and not only by your repertoire of great Slack memes.
Thank you, also, to our incredible team. We would not be here without your dedication, brainpower, and creativity. Reach out if you’d like to learn more about Modern Treasury or join our growing team!
What’s past is prologue, and we’re just getting started with Chapter One.
In our Reverse Interview with Acquired, we spoke about this property of software, media, and many other types of businesses.
Sam is co-founder and CTO of Modern Treasury. Before that, was an engineer at Kiavi (fka Lending Home), was co-founder and CTO at Agustus & Ahab, and worked for Everlane and Rearden Commerce. He earned his BS from Columbia University, where he also worked on hacking projects. Sam is known to celebrate company milestones with Krispy Kreme deliveries.
Dimitri Dadiomov is the co-founder and President of Modern Treasury. Dimitri started his career in product and business development at Better Place and then moved to venture capital before earning his MBA at Harvard Business School. Dimitri is a graduate of Stanford University and spends his free time skiing, hiking, writing, and devouring books.
Matt is co-founder and CEO of Modern Treasury. Previously, Matt worked at First Round Capital and Ultimate Kronos Group. Matt graduated with a BS in Computer Science from Dartmouth College, where he was captain of the men’s lightweight rowing team. Matt is an avid hiker and is known to celebrate company milestones with SusieCakes deliveries.
