/Investor DB

Treasury

Venture capital

New York · Seed–Series A · 13 people tracked

Also known as TREASURY FUND MANAGEMENT LLC

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Investment thesis

Treasury invests in early-stage fintech founders building the next generation of financial infrastructure and tooling. The firm backs builders globally who are modernizing financial services and redefining their categories through new approaches to financial technology.

Source: firm website, verified Oct 13, 2026.

Stage
Seed–Series A
HQ
New York, US
Instruments
Equity
Founded
2020
Last 12 months
2 investments
Private fund assets
$89.3M
VC funds
2
Tracked investments
28
Unicorns
1
Acquisitions
3

Team · 13 people

from the firm's website & curated & public directories
Eli Broverman· Co-Founderin

Co-founder of Betterment, which he launched in 2008 and scaled into the largest independent digital wealth advisor.

Jeff Cruttenden· Co-Founder

Co-founder of Acorns, the first mobile-first micro-investing app, and of Say, a proxy-voting platform acquired by Robinhood in 2021.

Cynthia Loh· Venture Partner

Head of Beyond the Card at Capital One who previously built Betterment's 401(k) business and held senior roles at Goldman Sachs, Charles Schwab, and ZocDoc.

Michael Ballard· Operating Partnerin

Product leader, investor, and professor with 15+ years in fintech who advises founders on product, go-to-market, and fundraising; previously led product at Betterment, Goldman Sachs, and Morgan Stanley and teaches at Parsons.

Aiden Guo· Investment Analystin

Finance and technology professional with operations, product, and strategy experience at early-stage startups including Daisy and CREFtech; holds a finance and computer science degree from NYU Stern.

Kir Shtogrin· Research Analyst

Formerly advised SMBs on internationalization at an EU institution and is pursuing a PhD in economics.

James Layfield· Executive Officer
Jeffrey Cartright· Executive Officer
Jonathan Christodoro· Executive Officer
Jonathan Wong· Executive Officer
MC Lader· Associatein𝕏

Former COO of Uniswap Labs and previously at BlackRock Innovation.

Alexander Pisarev
Sasha Silvestrov· Associatein

Previously oversaw a global portfolio of startups and funds at a Ukrainian family office and worked with many startups at a consultancy firm.

Founder mafia

2 people who came through Treasury went on to found or lead other companies.

What they invest in

from 24 of 28 portfolio companies

Fintech ×17SaaS ×14Enterprise Software ×13AI & Machine Learning ×9HR Tech ×5Marketplaces ×4Consumer ×3Data & Infrastructure ×3

HQs:United States×11France×1United Kingdom×1Israel×1India×1Singapore×1

Who they back

founder profiles across 16 portfolio companies
44%
solo founders
7 of 16 mapped founding teams
38%
repeat founders
of 24 founders with career history

Founding team size:solo founder×72 founders×43 founders×34+ founders×2

Where their founders studiedfrom 23 founders with education data

Tel Aviv University ×2The Open University of Israel ×2University of Puget Sound ×2University of Southern California ×2

What their founders studiedfrom 21 founders with field-of-study data

Computer Science ×8Business & Management ×6Finance & Accounting ×3Design & Architecture ×2Economics ×2Law ×2

Where their founders worked beforefrom 24 founders with career history

Google ×3Remitly Israel (formerly Rewire) ×3Council on Foreign Relations ×2Lloyds Bank ×2Unicorn Growth Ventures ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×2

1 hold an MBA (of 22 with degree data)

Investments · 28 tracked

founders shown can be your intro path

By year:2026 · 22022 · 12021 · 25 dated

Andelaandela.comin𝕏

Andela connects global technologists with enterprise opportunities and serves as a platform for hiring, building AI systems, and upskilling teams.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareFuture of WorkHR TechMarketplacesWashington, D.C., US

Jeremy Johnson(Founder)inIyinoluwa Aboyeji(Founder)inNadayar Enagesi(Founder)Brice Nkengsa(Founder)inIan Carnevale(Founder)inChristina Sass(Founder)in

Co-investors4DX VenturesAccelerate AfricaAir Street CapitalAlbum VCAmplo VenturesCRE Venture Capital+32 more

Aprilgetapril.comin

April provides embeddable tax filing and advisory tools that platforms serving small businesses and gig workers can offer as add-ons or bundle into premium tiers.

AI & Machine LearningFintechFuture of WorkSaaSNew York City, US

Daniel Marcous(Founder)inBen(Founder)Raj(President & COO)Ben Borodach(Founder)

Co-investorsAtento CapitalNycaNyca PartnersQED InvestorsTranspose Platform Management

Ballerineballerine.comin𝕏

Ballerine provides AI-powered merchant policy fit analysis that evaluates whether merchants' business activities align with acceptable use policies (AUP).

AI & Machine LearningEnterprise SoftwareFintechSaaSTel Aviv-Yafo, IL

Noam Izhaki(Founder)inNitzan Gelbard(Founder)inAlon Peretz(Founder)in

Co-investorsDallas Venture CapitalICON - Israel Collaboration NetworkMoneta VCY CombinatorMarc BhargavaTeam8+1 more

Betterment Holdings, Inc.betterment.comin𝕏Sep 2021 · $160M

Betterment provides automated investment management and portfolio advisory services for individual investors, including retirement accounts and taxable accounts.

FintechNew York, US

Jonathan Stein(Executive Officer, Director)inEli Broverman(Founder)inJohn MilehaminJon Stein(Founder)

BoardPeter Christodoulo(Director)inRyan O'Sullivan(Director)

Co-investorsAnthemis VentureBessemer Venture PartnersFJ LabsFrancisco PartnersFuture Perfect VenturesGlobespan Capital Partners+15 more

Bleeblee.cominSeries A

Blee provides a collaborative platform that brings legal and marketing teams together to streamline content review and approval workflows.

AI & Machine LearningEnterprise SoftwareFintechLegalTechMarketing TechNew York City, US

Guy Shahar(Founder)inJoseph NurielEvan Sandler(Eng Manager)Rebecca T(Hiring)Omer Malik(Engineering)Stephanie Mertz(Recruiter)

Co-investorsCardumen CapitalHannah Grey VenturesPenny Jar Capital VentureY CombinatorFin Capital

bolttechbolttech.ioinNo public record

Bolttech is a technology-enabled insurance ecosystem that partners with leading insurers and distribution partners to serve millions of customers globally.

FintechInsurTechSaaS

Rob Schimek(Founder)

Co-investorsActivant CapitalLeapFrog InvestmentsMundi VenturesRaptor GroupBaillie GiffordBlueRun Ventures+1 more

Brankasbrankas.comin𝕏Jan 2022 · $20M

Brankas operates an open finance platform that connects financial institutions with technology companies and consumers in developing markets.

Data & InfrastructureDeveloper ToolsEnterprise SoftwareFintechSaaS

Kenneth Shaw(Founder)in

Co-investorsInsignia Ventures PartnersIntegra PartnersAFG PartnersBEENEXTVisa Ventures

Capitalizecapitalize.io

Capitalize provides data and AI-powered search tools for commercial real estate professionals to find lenders, loan comparables, and borrower leads nationwide.

Data & InfrastructureEnterprise SoftwareFintech

Luke Morris(Founder)inGaurav Sharma(Founder)in

Co-investorsLerer Hippeau

Charm Securitycharmsecurity.comin

Charm Security builds AI agents for scam, fraud, and cybercrime prevention that combine fraud and security expertise with behavioral psychology, working alongside fraud, financial crime, and customer-facing teams to guide real-time prevention, investigation, and resolution.

AI & Machine LearningCybersecurityFintech

Roy Zur(Founder)inAvichai Ben‏(Founder)in

Co-investorsTeam8

Coppergetcopper.comin𝕏

Copper is a mobile app that pays users with points redeemable for gift cards and cash (e.g.

Consumer

Stefan Berglund(Co-founder)inEddie Behringer(CEO / Co-founder)in

Co-investorsAlumni VenturesClocktower VenturesFinancial Venture StudioGaingelsLaunchpad CapitalMaven Ventures+7 more

Execiamexec.com𝕏Jul 2026 · $7.7Macquired by Handy

Atrium is a technology company and corporate law firm that provides business and legal services to startups, with an emphasis on fast, transparent, and price-predictable pricing.

ConsumerEnterprise SoftwareLegalTechMarketplacesSaaSSan Francisco, US

Justin Kan(CEO & Co-founder)inAmir Ghazvinian(CTO)inDaniel Kan(Founder)inOisin Hanrahan(Co-Founder and CEO)inUmang Dua(Co-Founder and COO)inTristan Zier(General Manager)

Co-investorsHighland Capital PartnersY CombinatorAlsop Louie PartnersCaffeinated CapitalCRV (Charles River Ventures)Crystal Towers Capital+8 more

Groundswellgroundswell.ioNov 2021

Groundswell is a CSR (corporate social responsibility) platform that provides employees with tax-advantaged personal giving accounts, volunteer program management, and employee assistance funds integrated into a single workplace experience.

Enterprise SoftwareHR TechImpact & Social GoodSaaSRedondo Beach, US

Jake Wood(Founder)inAdam Miller(Executive Officer, Director)

BoardHeather Hartnett(Director)inJoe Marchese(Executive Officer, Director)in

Co-investorsCore Venture CapitalFelicis VenturesGV (Google Ventures)Moonshots CapitalCore Innovation CapitalHuman Ventures

Intelasintelas.com

Intelas provides a data management platform for real estate portfolios that centralizes and standardizes property-level financial and operational data from multiple sources.

AI & Machine LearningData & InfrastructureEnterprise SoftwarePropTechSaaS

Dimitrios Pilitsis(Founder, CEO)in

Co-investorsBackwards CapitalInnovating Capital

Keptkept.ioin𝕏

Kept provides off-boarding and benefits administration solutions for companies transitioning employees, replacing standard COBRA administration processes with supportive experiences.

Enterprise SoftwareFuture of WorkHR TechSaaS

Topher ReynosoinHaak SaxberginArvind Shrihariin

Co-investorsRecall CapitalWonder VenturesWedbush Ventures

New Rangenewrange.comin𝕏

New Range builds compliance technology and back-office infrastructure for broker-dealers and RIAs, covering areas like CAT reporting, best execution monitoring, and trade surveillance.

AI & Machine LearningEnterprise SoftwareFintechSaaSIrvine, US

Breanna P(Founder)Bre(Co-founder)Mark(Co-founder)

Co-investorsFikaPlug and Play VenturesTorch CapitalWedbush Ventures

Renegade Insurancerenegadeinsurance.comin𝕏

Renegade provides an ownership-based model with community and operational systems to support independent insurance agents in growing, operating, and exiting their agencies.

FintechInsurTechMarketplacesNew York, US

Co-investorsblue 9 capitalMetaPropMetaProp VenturesNFXEx NihiloLeft Lane Capital

Rosalyrosaly.comin𝕏

Rosaly offers a financial wellbeing platform that lets employees access earned wage advances and automates the handling of salary advances for HR teams.

FintechHR TechSaaS

Arbia SMITI(Founder)in

Co-investorsAUDEO VENTURESAuxxoClocktower VenturesFin CapitalFJ LabsHaymaker Ventures+2 more

Rotatewithrotate.comin𝕏Acquired

Check Point provides unified security solutions for AI, infrastructure, data, and users across on-premises, cloud, and remote environments using hybrid mesh network architecture and zero trust principles.

Cybersecurity

Co-investorsG20 VenturesTal VenturesTorch CapitalUpWestat.inc/

Rulezerorulezero.com

Hissa provides portfolio management and secondary market infrastructure for investors managing private equity positions in Indian companies, consolidating holdings tracking and liquidity opportunities in a single platform.

B2B MarketplacesEnterprise SoftwareFintechHR TechSaaSIndia, IN

Satish Mugulavalli(Founder)in

Co-investorsAxilor VenturesYourNest Venture Capital

Tesorotesoroxp.comJan 2026 · $5.4M

Tesoro operates a card-linked rewards platform that lets gamers connect their Visa or Mastercard to earn in-game currency when they spend at participating merchants, using a patented system that integrates directly with the card networks.

FintechGamingMarketing TechAustin, US

Beau Button(Founder)inTawsif Khan(Executive Officer, Director)

BoardJeff Cruttenden(Director)Blake Chandlee(Director)Jay Fishman(Director)Dave Yonamine(Director)

Co-investorsGaingelsTK MediaTech Ventures

Tumelotumelo.comin𝕏

Tumelo builds proxy-voting technology for stewardship teams at financial institutions, including ProxySphere, a pass-through voting infrastructure for pooled funds serving institutional and retail investors, and ProxyBeacon, an AI platform for shareholder-voting research.

AI & Machine LearningFintechSaaS

Georgia Stewart(CEO)in

Co-investorsNucleus Adventure CapitalUna Terra

Vantagervantager.cominAcquired

Vantager is an AI-powered platform for limited partners that centralizes and indexes data from GPs and fund managers into a single repository, allowing users to access funds, underlying assets, and KPIs across their portfolio.

AI & Machine LearningEnterprise SoftwareFintechLegalTechSaaSNew York, US

Mason Lender(CEO)inNicolas Neven(CTO)in

Co-investorsEntrepreneur FirstBoxOne VenturesDash Fund

Vertovertofx.comin𝕏Series A

Verto operates a cross-border payment and foreign exchange platform for businesses, letting them convert, hold, receive, and make payments across 49 currencies.

B2B MarketplacesEnterprise SoftwareFintechSaaSLondon, GB

Anthony Oduwole(Founder)inOla Oyetayo(Founder)inAnthony O.(Founder)inAnthony Oduu(Founder)Joshua Daniel(Talent Manager)Adebayo Aderohunmu(Recruiter)

Co-investorsMiddle East Venture Partners (MEVP)P1 VenturesQuona CapitalUnicorn Growth VenturesUtopian VenturesVentures Platform+16 more

Warmergetwarmer.com

Warmer is a consumer directory and matching service that lets individuals search, compare, and connect with SEC- or state-registered fiduciary financial advisors based on fees, specialties, disciplinary history, and client feedback.

ConsumerFintechMarketplaces

Co-investorsGood Friends

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

CounterEmbedTailshift

Exits · 3

3 acquisitions · showing 1

Execacq. by Handy

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Treasury made?
Treasury has 28 tracked investments, 3 of which have exited, including 2 dated in the last 24 months.
What stage does Treasury invest at?
Treasury invests at the Seed, Series A stages.
What sectors does Treasury focus on?
Treasury focuses on Fintech.
Where is Treasury located?
Treasury is headquartered in New York, US.
Who does Treasury co-invest with?
Treasury most often shares deals with Torch Capital, Alumni Ventures, Clocktower Ventures, among 87 tracked co-investors.

Media · Podcasts & interviews

featuring the team

My Path Forward: Jeff Cruttenden, Co-Founder Say, Acorns and Treasury

TGR Foundation · Jeff Cruttenden

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