Modern Treasury: How to Move Quadrillions of Dollars, with Co-founder and CEO Dimitri Dadiomov

Aug 24, 2023

Dimitri Dadiomov, Co-founder and CEO of Modern Treasury, discusses the challenges of moving quadrillions of dollars annually in the global banking system. He explores the importance of easy-to-use B2B products with broad use cases, the qualities of a good API business, and why building deep customer relationships across industries is vital. Dimitri also shares insights on finding market gaps, the depth of Modern Treasury's product, and the significance of going slow to go fast in business growth.

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Introduction

00:00 • 4min

The Challenges of Manual Financial Operations

04:23 • 4min

The Scale of Money Movement in the Financial Industry

08:01 • 21min

Automating Money Movement and Building APIs

29:31 • 9min

Product Expansion and Building a Sales Team

38:43 • 17min

Overcoming Challenges and Supporting Customers During Bank Failures

56:13 • 6min

Reflections on Early Days, Favorite Hiking Spot, and Saturday Notes at Modern Treasury

01:01:59 • 2min

The Importance of Information Flow in a Company

01:03:53 • 8min

Dimitri Dadiomov is the Co-founder and CEO of Modern Treasury, an operating system for the new era of payments. Dimitri and his co-founders Matt and Sam started the company in 2018 after running into the same problem working together at their previous startup. Modern Treasury has since raised over $183 million, supported by investors like YCombinator, Benchmark, Altimeter, Salesforce Ventures, Quiet Capital, WndrCo, TQ Ventures, and Edward Lando. Brought to you by Secureframe, the automated compliance platform built by compliance experts: https://bit.ly/3OwGdGC Sign-up for Ramp and get $500: https://bit.ly/3KSqfFV Read the transcript: https://www.thespl.it/p/how-to-move-quadrillions-of-dollars In this episode, we discuss: How the global banking system moves over $1 quadrillion per year Why B2B products should be easy to use with broad use cases What makes a good API business Why the YC application is a great forcing function for founders How it took them six months to get their first customer, but never pivoted Why the first customers of a B2B business should get more credit How PLG helped build a better product Finding holes in the market for an initial go-to-market strategy The depth of Modern Treasury’s product Why they should have built a sales team sooner How deep customer relationships across many industries helped them raise a Series A Why it’s important to go slow to go fast How Dimitri set an intentional culture around studying other businesses When distribution can be more important than product What happened inside Modern Treasury during the collapse of SVB and Signature Bank Why Dimitri sends Saturday update emails to entire company The founders Dimitri really admires Where to find Dimitri: Twitter: https://twitter.com/dadiomov LinkedIn: https://www.linkedin.com/in/dadiomov/ Where to find Turner: Newsletter: https://www.thespl.it Twitter: https://twitter.com/TurnerNovak Read the transcript: https://www.thespl.it/p/how-to-move-quadrillions-of-dollars Production and distribution by: https://www.supermix.io For sponsorship inquiries: https://docs.google.com/forms/d/e/1FAIpQLSebvhBlDDfHJyQdQWs8RwpFxWg-UbG0H-VFey05QSHvLxkZPQ/viewform