LONDON, October 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.
