GTreasury, a global leader in treasury management systems (TMS) for organizations worldwide, announced today that it has secured a majority investment from Hg, a leading investor in global software and services companies. The deal, which includes the participation of GTreasury’s management team and former majority owner, Mainsail Partners, marks a pivotal moment for the Chicago-based treasury, payments and risk management software provider.
Renaat Ver Eecke, CEO of GTreasury, expressing his enthusiasm about the investment, remarked, “This is a great moment for the team at GTreasury as it will support further product development and geographic expansion, helping us to continue innovating and bringing new products and features to an ever-growing customer base. Hg’s global software specialization and deep knowledge in this area will help accelerate this strategy significantly.”
Ben Meyer, Partner at Hg, commended GTreasury’s position in the fast-growing TMS segment by saying, “Renaat leads an impressive team in a high-quality business, providing a leading solution in what is a fast-growing segment. We are excited to partner with Renaat and his team, and to work together with Mainsail, to support them in further scaling GTreasury as a TMS industry champion.”
The investment and support from Hg will enable GTreasury to continue its rapid growth as a highly strategic platform in the TMS segment, drive operational improvements, facilitate increased investment in product development, and fuel the company’s global expansion plans – including in Asia Pacific and in Europe, where Hg possess a deep network and a 30-year heritage. Over the last 19 years, Hg has invested around US$9 billion in the wider tax and accounting software segment across Europe and North America, with a growing emphasis on software that serves the office of the CFO.
Louis Kinsella, Director at Hg, welcomed the investment and stated that “TMS software is becoming an increasingly critical segment within the office of the CFO, with companies continuing to focus on their cash and liquidity visibility and needs. This is a really long-term trend, and we’re delighted to be backing a great business and team which is at the forefront of this sector.”
According to Craig Jeffery, managing partner at Strategic Treasurer, a leading treasury consulting firm, “The Hg investment represents another significant win for GTreasury as they continue to accelerate their growth. Their transition from a successful individual-run fintech to an expanded and highly disciplined organization occurred with the Mainsail investment five years back. This investment from Hg allows them to continue to strengthen their position and expand even more intentionally into key verticals.”
In October 2017, Mainsail Partners invested $42 million in GTreasury. This investment helped accelerate GTreasury's product development, expand its international presence and enhance customer service.
“Partnering with Renaat and the rest of the GTreasury team over the past five years to build a leading treasury management platform has been very rewarding”, observed Vinay Kashyap, Partner at Mainsail Partners. “We believe the company is well positioned and are excited to continue our partnership along with management and the team at Hg.”
Today, GTreasury’s Software as a Service (SaaS) solutions play a crucial role in assisting treasury departments in effectively managing liquidity needs, payment execution, bank relationships, FX hedging, and audit and compliance requirements. The company empowers treasury practitioners with real-time insights and access to global liquidity needs, serving over 700 customers across 30 industries in over 160 countries.
With the support of Hg’s investment, GTreasury is poised to strengthen its position as a global leader in TMS, creating innovative solutions that help organizations manage their treasury operations strategically and effectively.
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