Primary
Primary is an AI-native treasury management platform for growth-stage companies with multi-entity, multi-currency operations, offering real-time cash visibility, institutional yield access, FX hedging, and conversational treasury queries via MCP-integrated LLMs.
- Company typePrivate
- Founded2022
- HeadquartersSydney, Australia
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Primary does
Primary Technology Pty Limited, founded in 2022 and headquartered in Sydney, operates an AI-native treasury management platform targeted at growth-stage companies operating across multiple entities, currencies, and geographies. The platform functions as an orchestration layer over existing banking, payment processor, and accounting infrastructure, consolidating balances and transactions into a real-time dashboard covering 25+ countries. Its customer base spans Series A+ startups through established growth companies in fintech, e-commerce, healthcare, consumer products, infrastructure, and software, with named customers including Lyka, Bellroy, Heidi Health, Eucalyptus, Neara, Morse Micro, ProcurePro, Atelier, Nexl, and EQL.
The technology stack integrates with banks (J.P. Morgan, Citi, HSBC, Westpac, Commonwealth Bank, Mercury, Brex), payment processors (Stripe, Wise, Airwallex, Ramp), and accounting systems (Xero, Oracle NetSuite, QuickBooks, MYOB). Its distinguishing capability is a Model Context Protocol (MCP) server that connects live treasury data to large language models (ChatGPT, Claude, Gemini), enabling natural-language queries about cash positions, FX exposure, and execution of payments, currency conversions, and hedges with human approval gates. Institutional yield is sourced through distribution agreements with BlackRock, Morgan Stanley, Goldman Sachs, State Street, and Macquarie.
Primary operates a tiered subscription model: a free Connect tier offering read-only visibility, a $399/month Platform tier with execution capability and wholesale FX/yield access, and a custom Enterprise tier with white-glove service, SWIFT connectivity, and bespoke investment policy statements. Revenue is generated from subscriptions, yield-management service fees on client cash balances, and FX transaction spreads. The company holds ISO 27001 and SOC 2 Type II certifications, is SEC-registered as an investment adviser, and operates under an Australian Financial Services Licence via Ebury Partners Australia.
Primary firmographics
Firmographics- Name
- Primary
- Legal name
- Primary Technology Pty Limited
- Website
- https://primary.tech
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Primary is an AI-native treasury management platform for growth-stage companies with multi-entity, multi-currency operations, offering real-time cash visibility, institutional yield access, FX hedging, and conversational treasury queries via MCP-integrated LLMs.
- Ownership category
- akta.pro rank
Primary industry classification
Industry- Product category
- Treasury Management Software
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Treasury, Cash Management & Liquidity Tools (Sweeps, Cash Concentration) (FSAGAAAG)
- akta.pro secondary industry
- Corporate Cash Management & Treasury ACH (FSAMAGAG)
Keywords
Where Primary is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Primary business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- Platform Subscription: Tiered subscription model with Connect (free), Platform ($399/month), and Enterprise (custom) tiers. Revenue from monthly/annual subscriptions with service fees on yield balances.
- Yield Management Fees: Service fees on yield balance (tiered ramp). Revenue share or margin on wholesale rates from institutional yield products (BlackRock MMF, State Street, Morgan Stanley, Goldman Sachs).
- FX Spread Revenue: Margin on foreign exchange transactions at interbank rates. Competitive pricing vs. traditional banks who charge ~1% for FX.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free tier with basic visibility and read-only MCP |
| Subscription | Monthly | $399/month with execution and full platform access |
| Subscription | Multi-year contract | Custom enterprise pricing with white glove service |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Primary product offering
Product offeringCore offering
Primary is an AI-native treasury management platform that consolidates bank accounts, payment processors, and accounting systems into a single real-time view across multiple entities and currencies. It provides automated cash sweeping into institutional yield products, interbank-rate FX execution with hedging, and an MCP (Model Context Protocol) server enabling conversational treasury queries and execution through LLMs such as ChatGPT, Claude, and Gemini.
Product overview
Primary is an AI-native treasury management platform for growth-stage companies going global. The platform provides a unified orchestration layer combining cash visibility, yield optimization, and FX management. Core products include the main Treasury Management Platform, Cash Visibility module, Yield generation through institutional partnerships (BlackRock, State Street, Morgan Stanley, Goldman Sachs), FX Management with hedging capabilities, and the MCP Server for AI-powered conversational treasury. The Connect plan (free) provides read-only visibility, Platform ($399/mo) adds execution capabilities, and Enterprise offers custom solutions. Pricing tiers provide access to wholesale rates and institutional yield products, with yield schedules varying by currency (AUD up to 5.82%, USD up to 3.65%, GBP up to 3.73%, EUR up to 1.92%).
Differentiator
Problem solved
Functional benefit
Products and services
- Primary Treasury Management Platform AI-powered treasury management platform providing real-time cash visibility, yield optimization, and FX risk management across multiple currencies and entities. Consolidates bank accounts, payment processors, and accounting systems for live cash position monitoring, automated sweeping, and interbank FX execution.
- Primary MCP (Model Context Protocol) for Treasury AI integration layer connecting live treasury data to LLM tools (ChatGPT, Claude, Gemini) via the Model Context Protocol. Enables natural language treasury queries, live data retrieval, and execution of payments, currency conversions, hedges (forwards and options), and cash sweeps through a conversational interface with human approval gates.
Quantifiable outcome
- 50% average reduction in FX cost vs incumbent banks
- +4 more outcomes
Companies that use Primary
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
Primary technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration15 records
AI capability7 records
Feature6 records
Primary partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- OpenAI (ChatGPT)corePrimary available as ChatGPT App. AI-native treasury access directly in ChatGPT for cash position checks, FX rate comparison, and yield modeling.
- J.P. MorgancoreBanking integration via J.P. Morgan Access. Pull balances and transactions, execute payments directly from Primary. Key partner for enterprise banking connectivity.
- StripecorePayment processor integration for automated cash management. Enables native USD payouts, Stripe payout automation, and transaction visibility.
- CiticoreBanking integration for global account connectivity. Supports multi-currency management across Primary's platform.
- Anthropic (Claude)coreAI integration via MCP protocol. Claude accesses Primary's live treasury data for natural language queries. Primary's MCP server certified for Claude access.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Primary competitors and assessment
Company assessmentBroad incumbents
- Ramp: Business banking, corporate cards, expense management, and bill pay platform widely used by growth-stage startups. Comparable on the integrated finance-stack positioning and growth-stage customer base, though broader in scope than treasury.
- HighRadius: Large enterprise fintech with treasury automation (cash forecasting, bank reconciliation, collections) as part of a broader order-to-cash and accounts receivable platform. Comparable on treasury automation but much larger scope and enterprise focus.
- Brex: Business banking, corporate cards, expense, and treasury-style cash management platform for startups and mid-market companies. Comparable on growth-stage customer base and multi-account cash visibility, but with much broader product scope.
Direct peers
- Trovata: AI-native cash management and treasury platform serving mid-market and enterprise finance teams with bank API aggregation, forecasting, and reporting. Directly comparable to Primary on product category, target buyer (CFO/treasury), and technology approach.
- Modern Treasury: Payment operations platform serving fintechs and high-growth companies with bank connectivity, money movement, and reconciliation. Comparable to Primary on developer-grade bank integrations and B2B fintech customer overlap.
- Treasury Intelligence Solutions (TIS): Cloud-based treasury management SaaS covering payments, bank connectivity, FX, and cash visibility for mid-market and enterprise. Comparable on core treasury functionality and bank-aggregation technology approach.
- Airwallex: Multi-currency business accounts, FX, and global payments platform for growing companies expanding internationally. Closely comparable to Primary on FX management, multi-currency treasury, and growth-stage international customer base.
- Kyriba: Established SaaS treasury management platform for cash visibility, payments, FX risk, and liquidity for mid-market and enterprise. Comparable to Primary on core treasury functionality but serves larger and more complex organizations.
- GTreasury: Enterprise treasury management SaaS covering cash visibility, payments, FX, hedge accounting, and bank connectivity. Comparable on treasury functionality but historically focused on larger corporates than Primary's growth-stage segment.
Emerging players
- Cashforce: Cash flow forecasting and treasury analytics platform for corporate finance teams. Comparable on cash visibility and treasury analytics for similar mid-market customer segments, though narrower in scope than Primary.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Primary social profiles
Digital presencePrimary compliance and trust
Trust signalCompliance6 records
Primary financial estimates
Financial estimateRevenue estimate
Valuation estimate
Primary leadership team
Management profileNumber of profiles
Profiles2 records
Primary funding detail
Funding detailFunding overview
Funding rounds2 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Primary M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Primary
What does Primary do?
Primary is an AI-native treasury management platform that consolidates bank accounts, payment processors, and accounting systems into a single real-time view across multiple entities and currencies. It provides automated cash sweeping into institutional yield products, interbank-rate FX execution with hedging, and an MCP (Model Context Protocol) server enabling conversational treasury queries and execution through LLMs such as ChatGPT, Claude, and Gemini.
Is Primary a public or private company?
Primary is a private company. It is classified as venture growth investor backed and is currently operating.
When was Primary founded?
Primary was founded in 2022. It employs 51 to 100 people.
Where is Primary based?
Primary is headquartered in Sydney, Australia, in the Oceania region.
How does Primary make money?
Three revenue lines are on record. Platform Subscription is the primary driver. The others are yield Management Fees and FX Spread Revenue.
Who are Primary's main competitors?
Broad incumbents on record are Ramp, HighRadius and Brex. Direct peers are Trovata, Modern Treasury, Treasury Intelligence Solutions (TIS), Airwallex, Kyriba and GTreasury. Cashforce is listed as an emerging player.
Does Primary have an API?
Yes. Primary offers an MCP (Model Context Protocol) server that connects live treasury data to LLM tools of choice. The MCP enables read-only access to balances, transactions, FX exposure, and yield data, as well as read-and-transact capability for executing payments, currency conversions, hedges (forwards and options), and cash sweeps. Available as a ChatGPT App and integrates with Claude, ChatGPT, and Gemini. Free tier provides read-only MCP; $399/mo tier adds execution capability. Enterprise tier offers API connectivity to TMS/ERP systems with SWIFT connectivity. Developer documentation is at primary.tech/blog/the-modern-finance-stack-primary-s-mcp.
What industry is Primary in?
Primary's product category is Treasury Management Software. Its primary akta.pro industry code is FSAGAAAG, Treasury, Cash Management & Liquidity Tools (Sweeps, Cash Concentration), with a secondary code of FSAMAGAG, Corporate Cash Management & Treasury ACH. Its NAICS code is 525 and its SIC code is 6199.