Modern Treasury’s Valuation Tops $2 Billion After New Financing

Payments software provider Modern Treasury said it’s valued at more than $2 billion after a funding round led by Altimeter Capital.

The $85 million investment also included existing investors Benchmark and Quiet Capital, giving the San Francisco-based startup a big jump in its valuation. Modern Treasury was valued at around $300 million at the beginning of the year, according to co-founder and Chief Executive Officer Dimitri Dadiomov.

Modern Treasury’s software helps improve the efficiency of bank transfers, especially between companies. The software helps finance and treasury teams automate the payment process from payment initiation through approvals. The company ...