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Accounting · head to head

Cledara vs Modern Treasury

Cledara logo

Cledara

Accounting

Software subscription management with a virtual card per application, priced from £100 a month

From
£100/month
Rated
-
Full reviewWebsite
Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Cledara control only extends to subscriptions paid on a Cledara card, so anything billed by invoice, bank transfer or a legacy company card is invisible to the system and undermines the inventory it promises.; Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • They diverge on capability: Cledara covers Virtual card per subscription, Modern Treasury covers Multi-rail payment initiation.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Cledara and Modern Treasury actually diverge.

Attributes where Cledara and Modern Treasury differ
AttributeCledaraModern Treasury
Starting price£100/monthOn request
Pricing modelPer month by number of applicationsquote

Identical on both: free tier (No), platforms (Web), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Cledara

  • Virtual card per subscription
  • Cancel by card
  • Application inventory
  • Approval workflow
  • Invoice collection
  • Accounting export
  • Spend optimisation module
  • IT management and compliance modules

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

What people use each for

The jobs each tool is most often brought in to do.

Cledara

  • A finance team that cannot say what software the company pays for because everything is on three people's company cardsnot Modern Treasury
  • A company that keeps paying for tools nobody uses and cannot get the vendor to process a cancellationnot Modern Treasury
  • A startup wanting approval on new software purchases before the first charge rather than at the auditnot Modern Treasury
  • A finance function that spends days each month chasing SaaS invoices for the accountantnot Modern Treasury

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot Cledara
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Cledara
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot Cledara
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Cledara

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Cledara

  • Control only extends to subscriptions paid on a Cledara card, so anything billed by invoice, bank transfer or a legacy company card is invisible to the system and undermines the inventory it promises.
  • Tier limits are set by number of applications rather than headcount, and twenty applications on the Basic plan is fewer than most companies of fifty actually run, so buyers often land on a higher tier than the entry price suggests.
  • The modules that turn it from a payment layer into a management platform, spend optimisation, IT management and compliance, are each priced at £150 to £200 a month, comparable to the base plan itself.
  • Usage data is inferred from payment and integration signals rather than deep application telemetry, so its judgement of whether a tool is underused is weaker than a discovery product built on single sign-on and API usage.
  • It is a card issuer as well as a software vendor, which adds financial counterparty considerations and means a change in its banking arrangements would affect how the company pays every one of its suppliers.

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

Pricing, plan by plan

Cledara

£100/month
  • Basic$100/month
    • Up to 20 software applications
    • Virtual card per subscription
    • Application inventory and approvals
  • Premium$undefined/month
    • Up to 75 software applications
    • Typically 51 to 150 staff
    • 1% cashback in the first year, capped at the subscription cost
  • Pro$undefined/month
    • For organisations above roughly 150 staff
    • Scoped individually
    • 1% cashback in the first year, capped at plan cost
  • Add-on modules$200/month
    • Spend Optimization £200 a month or £1,500 a year
    • IT Management £150 a month or £1,500 a year
    • Software Compliance £150 a month or £1,500 a year

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

Which should you pick?

Choose Cledara if

  • You need virtual card per subscription.
  • You also want cancel by card.
Cledara review

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Questions people ask

Is Cledara or Modern Treasury better?
Neither clearly leads. Cledara starts at £100/month and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Cledara or Modern Treasury?
Cledara starts at £100/month and Modern Treasury at On request.
Does Cledara or Modern Treasury run on more platforms?
Both run on Web, so platform support will not decide this one for you.
What is Cledara best used for?
Cledara is most often used for a finance team that cannot say what software the company pays for because everything is on three people's company cards, a company that keeps paying for tools nobody uses and cannot get the vendor to process a cancellation, a startup wanting approval on new software purchases before the first charge rather than at the audit, a finance function that spends days each month chasing saas invoices for the accountant. Of those, a finance team that cannot say what software the company pays for because everything is on three people's company cards and a company that keeps paying for tools nobody uses and cannot get the vendor to process a cancellation are not what Modern Treasury is typically brought in for.
What can Cledara do that Modern Treasury cannot?
Cledara covers Virtual card per subscription, Cancel by card, Application inventory, Approval workflow. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Cledara: What does it cost?

Basic is £100 a month for up to 20 applications, with Premium covering up to 75 and Pro above that. Add-on modules are £150 to £200 a month each, and annual payment saves 16%.

Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

Cledara: Does it find software we did not tell it about?

Only what passes through its cards or connected integrations. Subscriptions paid by invoice or another card stay hidden, which is the main limitation of the model.

Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

Cledara: How does cancelling work?

You cancel the virtual card for that subscription, which stops the payment. It does not remove your contractual obligation, so check notice periods.

Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

Cledara: Is the application limit by users or by tools?

By tools. Twenty on Basic, seventy-five on Premium. Count your actual subscriptions before assuming the entry price applies to you.

Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

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