San Francisco, CA, July 26, 2022 (GLOBE NEWSWIRE) — Treasure Financial, a fast-growing B2B fintech company, which provides automated cash management solutions for growing businesses, today announced that it partnered with Grasshopper Bank to deliver a new platform where businesses can dynamically optimize the rate they are generating on their cash balances and have better vision into their financial health. This bolsters Treasure’s treasury management solution offering and will help Grasshopper deepen relationships with its small to mid-sized business customers.
Treasure’s technology provides a full suite of products to help financial managers not only better track their finances in real-time but also access financial products to help them generate revenue from their finances. In this new partnership, Treasure clients will now have access to FDIC-insured deposit products and payments capabilities by leveraging Grasshopper’s innovative Banking-as-a-Service (BaaS) platform, powered by API middleware provided by the Bank’s technology partner Treasury Prime.
Treasure and Grasshopper are working together to help all businesses have access to the same type of financial services as large corporations. This relationship is providing businesses with better yield production on their cash balance, more automation, and an easier way to move money. Treasure’s platform is positioned as the solution to optimize business finances in real-time without any friction. The two companies are continuing to explore ways to strengthen this relationship by potentially offering the Treasure solution to Grasshopper clients in the future.
“Working with Grasshopper is the next step in the growth of Treasure helping us to provide even more automation and improved yield production to our customers, further strengthening our position as the leader in the Treasury Management as a Service (TaaS),” says Sam Strasser, Treasure CEO. “Grasshopper’s digital solutions are built on a similar idea as our own: driving and transforming businesses’ finances. We are excited to have the opportunity to bring our offerings together and further strengthen the value-add to our customers.”
Treasure’s existing customers start reaping the benefits of this partnership immediately. Business leaders can open accounts on Treasure’s platform instantly to seamlessly and safely generate an optimized yield that rises as the Fed hikes rates, all with no limits on deposits or earnings.
“Treasure is the leader in Treasury Management as a Service that keeps building, offering, and strengthening their product, and we’re excited to partner with them,” says Mike Butler, CEO of Grasshopper. “We believe in their business model and look forward to helping them achieve their growth goals. We also have a strong alignment in terms of the markets we serve, so being able to offer this type of platform to our clients in the future will be another great win.”
Treasure is planning on announcing more product offerings in the second half of the year as they continue to grow, build, and expand their platform to satisfy their rapidly growing customer base. To learn more, please visit https://treasurefi.com/.
About Treasure Financial
Treasure Financial is the leading business cash management platform. Treasure’s technology makes it simple to accurately track cash flow, identify, and monetize idle cash with the Treasure Reserve account. Designed for the specific needs of venture-backed and growing businesses, Treasure Reserve allocations range from the ultra-safe Treasure Cash™ earning 30x* more to Treasure High Yield earning up to 100x** more. With Treasure, it takes less than 10 minutes to transform cash flow into revenue, safely turning finance departments from cost centers to profit generators. Visit https://treasurefi.com/ for more information.
With total assets of approximately $500 million, Grasshopper is a client-first digital bank serving the business and innovation economy. Grasshopper replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries and a passionate team of experts with deep expertise in their fields. Grasshopper’s banking solutions cover small businesses, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. Headquartered in New York City, the bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, visit the bank’s website at https://www.grasshopper.bank/ or follow on LinkedIn and Twitter.