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Treasury is a venture capital organization founded in 2020 by Eli Broverman and Jeff Cruttenden, both of whom are notable figures in the financial technology sector. The firm is headquartered in New York City, NY, and focuses on modernizing financial services globally. Treasury aims to support ambitious builders in the fintech space, particularly those redefining their categories with innovative infrastructure and tools.
The organization has a strong commitment to early-stage investments, specifically targeting pre-seed, seed, seed-plus, and Series A stages. Although the total assets under management (AUM) and fund size are not publicly disclosed, Treasury's portfolio includes a diverse range of companies that reflect its focus on financial technology innovation.
Notable milestones include investments in companies like Andela, April, and Ballerine, which align with Treasury's mission to enhance financial services through technology. The firm leverages the extensive experience and networks of its founding team to provide strategic guidance and industry insights to its portfolio companies.
Treasury invests primarily in early-stage financial technology companies that are innovating across various aspects of financial services. The firm emphasizes supporting builders who are creating new infrastructure and tooling within the fintech sector. This includes a focus on sectors such as fintech, healthcare, AI, and commerce.
The investment strategy encompasses pre-seed, seed, seed-plus, and Series A stages, with check sizes likely ranging from $1 million to $5 million based on the context of previous rounds. Treasury seeks to partner with founders who are ambitious and possess a clear vision for transforming financial services. The firm values innovative approaches to financial infrastructure and is particularly interested in companies that can redefine traditional financial categories.
Treasury's portfolio includes a diverse array of companies that exemplify its focus on financial technology innovation. Notable portfolio companies include:
This portfolio reflects Treasury's commitment to supporting companies that are innovating in financial services and infrastructure, aligning with its investment thesis.
Eli Broverman — Co-Founder: Eli is a co-founder of Betterment, one of the first robo-advisors, and has extensive experience in the fintech sector.
Jeff Cruttenden — Co-Founder: Jeff co-founded Acorns, a micro-investing app, and Say Technologies, focusing on shareholder engagement. He is recognized for his contributions to fintech innovation.
Sasha Silvestrov — Associate: Sasha supports investment activities and portfolio management, bringing analytical expertise to the team.
Kir Shtogrin — Research Analyst: Kir conducts market research and analysis to identify emerging trends in the fintech landscape.
Cynthia Loh — Venture Partner: Cynthia provides strategic insights and guidance based on her extensive experience in venture capital and financial services.
Aiden Guo — Investment Analyst: Aiden assists in evaluating potential investments and supporting portfolio companies.
Michael Ballard — Venture Partner: Michael brings a wealth of experience in venture capital and financial technology to the firm.
To pitch Treasury, founders should visit their website at thetreasury.com. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and team background. Treasury prefers pitches that are clear and concise, highlighting the innovative aspects of the startup. Response times may vary, but founders can expect to hear back within a few weeks.
In 2020, Treasury participated in a $6 million seed round for Covered by SAGE, co-investing alongside NFX and Tectonic Capital. This investment reflects Treasury's commitment to supporting innovative insurance solutions.
In 2021, Treasury led a $19 million Series A round for Tumelo, a shareholder engagement platform, with co-investors including Legal & General and Fidelity International Strategic Ventures. This investment aligns with Treasury's focus on modernizing financial services.
Additionally, Treasury participated in a $10 million seed round and a subsequent $30 million Series A for April, an embedded tax platform, showcasing its ongoing support for fintech innovation.
What are Treasury's investment criteria?
Treasury focuses on early-stage financial technology companies that are innovating in various aspects of financial services. The firm looks for founders who are ambitious and have a clear vision for transforming their respective sectors.
How can I apply or pitch to Treasury?
Founders can pitch Treasury through their website at thetreasury.com. It is advisable to include a detailed overview of the business model, market opportunity, and team background in the pitch deck.
What makes Treasury different from other venture capital firms?
Treasury is distinguished by its founding team, which includes prominent figures from the fintech industry, such as Eli Broverman and Jeff Cruttenden. Their extensive experience in building successful fintech companies provides unique insights and strategic guidance to portfolio companies.
What is Treasury's geographic scope?
The firm primarily invests in companies based in the United States, although it has shown interest in global opportunities, as evidenced by its investment in Brankas, which operates in Southeast Asia.
What is Treasury's post-investment involvement like?
Treasury actively engages with its portfolio companies, providing strategic guidance, industry insights, and connections to help founders navigate the complexities of building innovative financial services.
What is the typical check size for Treasury's investments?
Check sizes typically range from $1 million to $5 million, depending on the stage of the investment and the specific needs of the portfolio company.
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