About GTreasury
GTreasury is a treasury management platform connecting banks and ERPs for liquidity management, cash forecasting, payments, risk analysis, and netting. Chicago-headquartered with offices in London, Geneva, Dublin, Sydney, Singapore, and Manila, it supports operations across 160 countries through GSmart AI enhancements and rapid implementations.
Founded
1986
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$1B (acquired Oct 2025)
GTreasury Acquisition
GTreasury was acquired by Ripple for $1B on 16 October 2025.
Before the acquisition GTreasury had raised $42M across 1 funding round.
GTreasury, a Chicago-based provider of treasury management systems since 1986, offers a comprehensive platform for liquidity management, cash forecasting, payments, netting, and risk management, powering trillions of dollars in annual payment volumes for over 1,000 customers across 160 countries, including Fortune 500 firms like American Airlines, Goodyear, and Volvo. Ripple, a leading provider of digital asset infrastructure for enterprises, acquired GTreasury for $1 billion on October 16, 2025, marking its third major deal that year after Hidden Road ($1.25 billion prime brokerage) and Rail ($200 million stablecoin platform). The transaction enables Hg Capital, which invested in 2023 and accelerated GTreasury's AI innovations like GSmart AI, to fully exit alongside minority investor Mainsail Partners, valuing HgT’s stake at approximately £30 million. The strategic rationale combines GTreasury's four decades of compliant treasury expertise in risk management, FX solutions, and regulatory frameworks with Ripple's global network, real-time payments, and digital asset capabilities to activate capital in the digital economy. Post-acquisition, customers gain access to real-time 24/7 cross-border payments, repo market opportunities via Hidden Road for yield on short-term assets, and digital asset yield platforms, targeting the multi-trillion dollar corporate treasury market amid rising demand for real-time liquidity and blockchain integration. The deal, subject to regulatory approvals, is expected to close in the coming months, positioning Ripple to serve CFOs at major corporations with integrated solutions for moving, managing, and optimizing liquidity.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 16 Oct 2025 | Strategic M&A | $1B |
GTreasury Funding History
GTreasury has raised a total of $42M across 1 funding round.
GTreasury funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2017 | Undisclosed stage | Mainsail Partners (lead) | $42M | GTreasury, founded in 1986 by Orazio Pater and his wife Peg, is a treasury management software provider that centralizes banking activities and financial instruments tracking to help enterprises manage cash, liquidity, risk, and exposures. The platform offers real-time insight into business liquidity and automates treasury tasks across payment management, cash forecasting, netting, and risk monitoring. In October 2017, the company secured a $42 million investment from Mainsail Partners, marking its first institutional funding round despite three decades of organic growth. The investment was used to expand internationally, accelerate product development, enhance customer service, and support succession planning, with Orazio Pater transitioning to Executive Chairman and Renaat Ver Eecke being hired as CEO. The funding also enabled the opening of GTreasury's first international office in London. The company subsequently attracted further investment, with Hg acquiring a majority stake in May 2023, and was ultimately acquired by Ripple in October 2025 for approximately $1 billion, representing significant value creation from the 2017 Mainsail investment. |
Who has invested in GTreasury?
1 investor has backed GTreasury across its funding rounds, including Mainsail Partners.
Lead investors include Mainsail Partners.
GTreasury Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 GTreasury investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by GTreasury
GTreasury has acquired 5 companies to date.
Last acquisition by GTreasury was on January 6th 2026. GTreasury acquired SolveXia Pty Ltd for undisclosed valuation.
Latest Acquisitions by GTreasury
| Description | SolveXia is an Australia-based automation platform delivering no-code solutions for compliance, onboarding, and workflow optimization across financial services, healthcare, and retail sectors. | CashAnalytics is a Dublin-headquartered fintech company offering cloud-based cash forecasting software for multinational corporations with complex structures across subsidiaries. The platform aggregates data from ERP systems such as SAP and Oracle, delivering consolidated forecasts and variance analysis to treasury teams. It serves major clients including Siemens, Airbus, Unilever, and Vodafone, enhancing accuracy through automated reconciliation and scenario modeling. Founded in 2013, CashAnalytics supports over 200 organizations worldwide from offices in Ireland, the United Kingdom, and the United States. | Coprocess is a Geneva-headquartered developer of netting systems for corporate treasuries. Since its founding in 1991, the company has delivered multilateral netting software that integrates seamlessly with treasury management systems, ERP platforms like SAP and Oracle, and banking interfaces. This plug-and-play solution optimizes intercompany payments, minimizes foreign exchange risks, and streamlines cash pooling for multinational firms across Europe and beyond. Coprocess supports daily netting cycles, handles multiple currencies, and complies with international payment standards such as SEPA and SWIFT. | Hedge Trackers is a Dublin-headquartered provider of hedge accounting and derivatives services compliant with IFRS 9 and ASC 815 standards for U.S. corporations and banks. Established in 2006, it supports over 300 clients managing $2 trillion in notional exposure to FX, interest rates, and commodities. The firm operates from offices in Ireland, the U.S., and India. | |
| HQ Country | |||||
| HQ City | - | Dublin | Geneva | San Jose, CA | |
| Deal Date | 6 Jan 2026 | 9 Sep 2024 | 2 Mar 2021 | 18 Jan 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all GTreasury acquisitions and their M&A valuation multiples. Start Free Trial | |||||
GTreasury Competitors
GTreasury competitors include listed companies like 74Software and Freee, and private ones like 51 Credit Card Manager, Clara, DataSnipper and FreshBooks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $15M | - | $1B | 66.7x | ||
| Private | - | - | $1B | - | ||
| Private | $45M | - | $1B | 22.2x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $814M | $112M | $1.3B | 1.8x | ||
| Publicly listed | $214M | $6M | $1.5B | 4.8x |
GTreasury Public Comps
GTreasury is no longer listed, but its public comps include Fujian Boss Software, 74Software, Teamshares, Freee, Miroku Jyoho Service, Nordtech Group, BlackLine, Baiwang Cloud, Avant Group and Zaggle Prepaid Ocean.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $299M | $40M | 2.8x | 2.9x | 21.1x | 21.0x | |||
| $814M | $112M | 1.9x | 1.8x | 13.7x | 9.8x | |||
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
| $315M | $58M | 1.1x | 1.1x | 6.0x | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $700M | $72M | 2.6x | 2.5x | 25.6x | 8.5x | |||
| $109M | $433K | 2.6x | 2.7x | 648.3x | - | |||
This data is available for Pro users. Sign up to see all GTreasury competitors and their valuation data. Start Free Trial | ||||||||
Common questions about GTreasury
| When was GTreasury founded? | GTreasury was founded in 1986. |
| Where is GTreasury headquartered? | GTreasury is headquartered in Chicago, IL, United States. |
| Is GTreasury publicly listed? | No, GTreasury was acquired by Ripple in October 2025. |
| Who acquired GTreasury? | GTreasury was acquired by Ripple in October 2025. |
| How much was GTreasury acquired for? | GTreasury was acquired for $1B in October 2025. |
| How much funding has GTreasury raised? | GTreasury has raised $42M across 1 funding round. |
| What was GTreasury's last funding round? | GTreasury's last funding round was a $42M undisclosed-stage round in October 2017, led by Mainsail Partners. |
| Who are GTreasury's investors? | GTreasury's investors include Mainsail Partners. |
| Which companies are comparable to GTreasury? | Companies comparable to GTreasury include 51 Credit Card Manager, Clara, DataSnipper, FreshBooks, 74Software and Freee. |
| How many companies has GTreasury acquired? | GTreasury has acquired 5 companies, including SolveXia Pty Ltd, CashAnalytics, Coprocess, Hedge Trackers and Visual Risk. |
| What was the largest acquisition by GTreasury? | The $27M acquisition of Visual Risk in April 2018 is the largest acquisition GTreasury has made to date. |
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