Treasure partners with Grasshopper to improve corporate cash management
By Edlyn Cardoza
- B2B FinTech Company
Treasure Financial, a B2B FinTech company, which provides automated cash management solutions to growing businesses, announced its partnership with Grasshopper Bank to provide a new platform where businesses can dynamically optimize the rate they generate on their cash balances and get a better view of their financial health. This strengthens Treasure’s cash management solutions offering and will help Grasshopper deepen its relationships with its small and medium-sized business customers.
Treasure’s technology provides a full suite of products to help financial managers access financial products to help them generate revenue from their finances. Under this new partnership, Treasure customers will now have access to FDIC-insured deposit products and payment 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 work together to help all businesses have access to the same type of financial services as large corporations. This relationship offers businesses better yield on their cash balance, greater automation, and an easier way to transfer money. Treasure’s platform is positioned as the solution to optimize business finances in real time without any friction. The two companies continue to explore ways to strengthen this relationship by potentially offering the Treasure solution to Grasshopper customers in the future.
“Working with Grasshopper is the next step in Treasure’s growth, which helps us deliver even more automation and improve yield generation to our customers, further strengthening our position as a leader in cash management as a service. (TaaS),” says Sam Strasser, CEO of Treasure. “Grasshopper’s digital solutions are based on an idea similar to ours: to drive and transform business finances. We are excited to have the opportunity to bundle our offerings and further enhance the value for our customers.
Existing Treasure customers immediately begin to reap the benefits of this partnership. Business owners can open accounts on Treasure’s platform instantly to seamlessly and securely generate optimized returns that grow as the Fed raises rates, all with no limits on deposits or income.
“Treasure is the leader in cash management as a service that continues to develop, deliver and strengthen its product, and we are thrilled 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 customers in the future will be another big win.
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