[7Figures2Commas]

To be fair to Standard Treasury, the pitch ("we're building a new kind of bank") is an unusual one for traditional technology investors, so product validation, traction, etc. are probably going to be less important to the investors who are interested in evaluating this further.

But even so, the detail is quite lacking and there's not a lot that instills confidence that this company has what it takes break into a highly-regulated market dominated by institutions with billions of dollars in capital and more and better technology resources than the founders would like to believe. Building a viable new bank is not a $10 million proposition, so as an investor my first question would be: how much are you going to need to raise in the next several years for this to even have a shot?