Digital business payments company Modern Treasury is in pursuit of larger clients, CEO Dimitri Dadiomov said.
The San Francisco-based company aims to do so by building out its sales team, he said. Modern Treasury provides software used in payments processing via automated clearinghouse, real-time payments and wires.
During a Tuesday interview, Dadiomov pointed to the hiring of Chief Revenue Officer Craig Nile as a key point in shifting strategy to focus on larger clients. “Craig Nile joined us in December, and his focus is on building out a sales team,” Dadiomov said. “So that is very much the primary focus for us on the recruiting side.”
Modern Treasury's customers include payments players Marqeta, Revolut and Gusto, according to the company's website.
Nile’s past experience in enterprise sales at the messaging platform Slack is particularly relevant to Modern Treasury. “We very much brought him on board in order to focus on making sure that our products are relevant and we know how to sell not just to early-stage companies but also bigger companies,” Dadiomov said.
The company currently employs about 160 people, according to Dadiomov. That’s a slight dip from the headcount of 180 in mid-2022.
Dadiomov defined the larger clients the company seeks to snag as those working with big commercial banks such as BMO and investment bank Goldman Sachs. Modern Treasury counts both as partners, having announced the BMO tie-up earlier this month.
Modern Treasury is privately held and Dadiomov declined to provide annual revenue or profit figures.
Instead, he said that customers’ payments flow using Modern Treasury services are between $3 and $5 billion per month. That’s up from roughly $2.8 billion on a monthly basis last year, and $1 billion the year before that, according to prior statements from the company.
A spokesperson for the company declined to comment on company headcount or hiring. The spokesperson also declined to provide a more precise figure for monthly customer payment flow.