Shruthi Murthy, formerly of WhatsApp, joins fast-growing startup
SAN FRANCISCO, September 21, 2021--(BUSINESS WIRE)--Modern Treasury, a payments operations software provider, today announced that Shruthi Murthy 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 modernizing business-initiated payments, a more than $18 trillion U.S. industry still dominated by legacy technology and cumbersome processes.
Shruthi comes to Modern Treasury after having been at messaging behemoth WhatsApp for many years. She joined WhatsApp when it was a small team and witnessed it become one of the largest consumer apps in the world. Most recently, she built and led the payments engineering team there. She comes with a deep appreciation for the critical nature of payment operations in fast-growing businesses and the complexity inherent in the movement of money.
"Shruthi’s experience building payments at WhatsApp makes her a perfect fit for Modern Treasury," said Dimitri Dadiomov, Modern Treasury CEO and co-founder. "She knows from experience the pain points that companies face in payment operations at scale and the enormous value that the Modern Treasury platform provides."
Modern Treasury’s platform automates each step of the money moving process, enabling companies to instantly close books with continuous accounting, manage payments via dashboard or API, and automatically reconcile cash across multiple bank accounts versus having to spend hours or days doing so with more legacy or even manual systems.
"Every business faces the same problems, and no standardized payments API or platform exists to help them—except for Modern Treasury," said Shruthi. "I was drawn to Modern Treasury because an impressive number of businesses already use the platform. As usage grows, we plan to expand the engineering team to build payments products, and solutions for businesses to easily move money anywhere in the world."
In June, Modern Treasury reconciled $2 billion in transaction volume, up from $1 billion in March. Modern Treasury is seeking 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 enable its teams to engage in face-to-face or hybrid work when appropriate and safe. While Modern Treasury also supports remote work, the physical office will help it build a sustainable and vibrant culture that values the energy and shared experiences of in-person connection. The company also has plans for an office in New York City.
You can read the latest post from Shruthi Murthy in the Modern Treasury Journal.
About Modern Treasury
Modern Treasury builds payments operations software that automates the full cycle of money movement—from payment initiation, through approvals, to reconciliation—all from one app and API. Enabling real-time payments, automatic reconciliation, and continuous accounting, Modern Treasury’s platform is used by customers in a diverse range of sectors, including real estate, health care, financial services, and marketplaces, and more, with monthly reconciliations on the platform in the billions. Founded in 2018, San Francisco-based Modern Treasury is backed by Altimeter, Benchmark, and Y Combinator.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210921005228/en/