Tesouro

About Tesouro

Tesouro has developed an embedded payments platform engineered to address the complexities of integrating financial services into software. The company was founded in 2021 by Sean Donovan and Angie Ammon, who serve as CEO and co-founder, respectively. Both founders possess extensive experience in the payments sector, having spent years at Worldpay (formerly Vantiv), where they were instrumental in building the Payment Facilitator program. Their careers have been dedicated to simplifying embedded payments, with Donovan co-founding a platform to help software companies integrate with legacy processors and Ammon running a consultancy that guided software companies on payment strategies. This firsthand experience revealed the persistent complexities and fragmentation caused by layering new solutions on top of outdated legacy systems, which ultimately inspired the creation of Tesouro.

The company's core business revolves around providing a unified infrastructure that connects software companies, banks, and payment facilitators within a single ecosystem. This model targets the challenges software companies face when embedding payments, such as the need for multiple vendor integrations, slow merchant boarding, and fragmented reporting. Tesouro's platform streamlines these processes by automating merchant underwriting for faster approvals, offering a single integration for compliance checks, and simplifying reporting and reconciliation. The business generates revenue by providing these integrated payment processing services, aiming to create operational efficiencies and unlock new revenue streams for its clients. By collapsing the payments stack, Tesouro lays the groundwork for software platforms to embed not just payments, but also other financial services like banking and lending.

Tesouro's product is a comprehensive embedded payments platform that provides administrative tools, risk management capabilities, and portfolio visibility. Key features include automated merchant boarding and underwriting, configurable billing and funding functionalities, and modernized dispute and risk management. The platform is designed to eliminate the need for third-party risk vendors and complex integrations with legacy processors. It serves a range of clients, including software companies, banks, and payment facilitators, aiming to simplify their payment operations. The company has secured $42.4 million in funding over three rounds and is backed by institutional investors such as Drive Capital, Point72 Ventures, and M25.