SAN FRANCISCO – (BUSINESS WIRE) – Modern Treasury, a payment software provider, today announced that Shruthi Murthy has joined the team as Head of Engineering. The company also announced the opening of a new office in San Francisco.
The milestones mark the company’s rapid growth at the forefront of the modernization of business-initiated payments, a US $ 18 trillion industry that is still dominated by legacy technology and cumbersome processes.
Shruthi joins Modern Treasury after many years working for messaging giant WhatsApp. She came to WhatsApp when it was a small team and saw it grow to be one of the largest consumer apps in the world. Most recently she built and managed the payment engineering team there. She has a deep understanding of the critical nature of payment transactions in rapidly growing businesses and the complexities of money transfer.
“Shruthi’s experience in building payments on WhatsApp makes her perfect for Modern Treasury,” said Dimitri Dadiomov, CEO and co-founder of Modern Treasury. “She knows from experience the weaknesses that companies face on a large scale in payment transactions and the tremendous value that the Modern Treasury platform offers.”
Modern Treasury’s platform automates every step of the money transfer process, enabling companies to instantly close books with continuous accounting, manage payments through the dashboard or an API, and automatically reconcile cash across multiple bank accounts instead of spending hours or days doing so with more legacy or even manual systems.
“Every business faces the same problems, and there is no one-of-a-kind payment API or platform to help them with the exception of Modern Treasury,” said Shruthi. “I was drawn to Modern Treasury because an impressive number of companies are already using the platform. As usage increases, we plan to expand the engineering team to develop payment products and solutions for companies that allow money to move easily anywhere in the world. ”
In June, Modern Treasury matched $ 2 billion in transactions, up from $ 1 billion in March. Modern Treasury seeks top talent to keep pace with customer demand as it continues to scale.
Modern Treasury is also opening a new office in San Francisco to give its teams the ability to securely participate in personal or hybrid work when needed. While Modern Treasury also supports remote working, the physical office will help build a sustainable and vibrant culture that values the energy and shared experiences of personal connection. The company also plans to open an office in New York City.
You can read Shruthi Murthy’s latest post in the Modern Treasury Journal.
About modern finance
Modern Treasury develops payment operation software that automates the entire money movement cycle – from payment initiation to approval to reconciliation – all through an app and API. Modern Treasury’s platform enables real-time payments, auto reconciliation, and continuous accounting, and is used by clients in a variety of sectors including real estate, healthcare, financial services and marketplaces and more, with monthly reconciliations in the billions on the platform. Modern Treasury, based in San Francisco, was founded in 2018 and is supported by Altimeter, Benchmark and Y Combinator.
