// startup autopsy
Standard Treasury
Banking APIs before the world was ready
timingAcqui-hire
Fatal mistake: Entered the bank API infrastructure market years before banks were culturally or technically ready to open their systems to third-party developers.
| Founded | 2013 |
|---|---|
| Closed | 2015 |
| Country | USA |
| Sector | Developer tools |
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Key Events Timeline
FOUNDING
Standard Treasury founded by Zack Townsend in the USA to build open banking API infrastructure.
FUNDING
Raised $2.7M in seed funding to expand API development and enterprise sales efforts.
PRODUCT LAUNCH
Launched banking API platform targeting developers at financial institutions, gaining early pilot customers.
ACQUISITION ATTEMPT
Silicon Valley Bank approached the team for an acqui-hire, recognizing the talent and technology amid slow organic traction.
SHUTDOWN
Standard Treasury ceased independent operations after being fully acqui-hired by Silicon Valley Bank.