Hg agrees sale of GTreasury to Ripple for $1 billion
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As a result of the transaction Hg will fully exit the business, having first invested in 2023.
GTreasury powers trillions of dollars in annual payment volumes, serving 1,000+ customers worldwide across 160 countries
Hg’s AI expertise helped accelerate the development of GTreasury’s new AI products, including the launch of GSmart AI earlier this year
London, Oct 16 2025 – Hg, a leading investor in European and transatlantic software and services businesses, today announced it has agreed the sale of GTreasury, a global leader in adaptable treasury solutions for the Office of the CFO, for a total transaction value of over $1 billion.
GTreasury will be acquired by Ripple, a leading provider of digital asset infrastructure for the enterprise. As a result of this transaction, Hg will fully exit the business, alongside minority investor, Mainsail Partners.
GTreasury provides financial leaders with a comprehensive platform to manage every stage of treasury complexity, covering liquidity management, cash forecasting, payments, netting, and risk. Hg invested in 2023 recognising that these were becoming increasingly critical and strategic products within the Office of the CFO.
The company has scaled significantly with Hg’s support, expanding its transatlantic footprint and accelerating product innovation. This includes the launch of GSmart AI, which augments GTreasury’s platform with agentic capabilities that reduce manual effort, proactively identify risks and variances, and recommend strategic actions for finance leaders.
GTreasury now powers trillions of dollars in annual payment volumes and serves more than 1,000 customers across 160 countries.
Renaat Ver Eecke, CEO, GTreasury, said: “Joining Ripple is hugely exciting and will further accelerate our vision of smart, adaptable solutions that provide financial leaders with the clarity to act. I am also immensely grateful for Hg’s support over the last two and a half years, whose expertise in software, AI, and Office of the CFO gave us a huge advantage while scaling, launching new products and delighting our customers. Finally, I want to thank Mainsail Partners for their steadfast support since their initial investment in 2017.”
Louis Kinsella, Partner at Hg, said: “It’s been a pleasure working with Renaat and the GTreasury team over the last couple of years. The business has firmly cemented its position as the most adaptable treasury platform on the market, evidenced by its accelerating growth, increasingly transatlantic footprint, and exciting product innovations, including the recent launch of GSmart AI. I have no doubt the GTreasury team will continue to thrive in this exciting new chapter.”
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to GTreasury; Morrison & Foerster LLP is serving as legal counsel to GTreasury. EY-Parthenon is also serving as an advisor to GTreasury.
For further information, please contact:
Hg
Tom Eckersley, tom.eckersley@hgcapital.com
Sam Ferris, sam.ferris@hgcapital.com
GTreasury
Travis Arthur, tarthur@gtreasury.com
Mainsail Partners
Kristy DelMuto, kristy@mainsailpartners.com
About Hg
Hg is a leading investor in European and transatlantic software and services businesses. We help to build sector-leading enterprises that supply critical software applications or workflow services to deliver intelligent automation for their customers.
We take an active approach to value creation, combining deep end-market knowledge with world class operational resources to provide compelling support to entrepreneurial leaders looking to scale enduring businesses.
With a vast European network and strong presence across North America, Hg has approximately $100 billion in assets under management and more than 400 employees. Our portfolio spans more than 50 companies worth over $180 billion in aggregate enterprise value, employing more than 125,000 people and consistently growing revenues at more than 20% annually.
About GTreasury
GTreasury provides CFOs and Treasurers with The Clarity to Act on strategic financial decisions with the world’s most adaptable treasury platform, empowering them to face the challenges of today and tomorrow. Because each company faces different points of complexity and needs, our industry-leading solutions are purposefully designed, and amplified by GSmart AI, to support every stage of treasury complexity, from Liquidity Management and Cash Forecasting to Payments, Risk, and Netting. With GTreasury, financial leaders gain comprehensive connectivity across all banks and ERPs to build an orchestrated data environment, enabling rapid value realization with implementations up and running in weeks. Plus, our unmatched industry expertise ensures clients’ continued success through dedicated guidance and top-tier support. Trusted by over 1,000 customers across 160 countries, GTreasury provides treasury and finance teams with the ability to connect, compile, and manage mission-critical data to optimize cash flows and capital structures.
About Mainsail Partners:
Mainsail Partners is a growth equity firm that invests in bootstrapped B2B software companies to help them grow into market leaders. Our team is purpose-built to include experienced investors and software operators who help founders build great teams, develop industry-leading products, design data-driven and scalable infrastructure, harness the power of AI to drive productivity and innovation, and grow market share. Mainsail’s hands-on support and best practices are delivered through a collaborative approach that respects founder-led cultures and helps build on each company’s commitment to its people and customers. With offices in Austin and San Francisco, Mainsail Partners has raised nearly $4 billion in committed capital and partnered with 100+ companies over the last 22+ years. For more information, visit www.mainsailpartners.com.