GTreasury, which makes software that helps companies keep track of their money, has just raised $42 million in new funding from Mansail Partners.
“We built our company by creating mission-critical products and providing top-tier service to our customers and partners,” said CEO Orazio Pater in a statement. “This partnership with Mainsail will allow us to double down on those efforts by accelerating innovation and delivering even greater value to treasury departments.”
GTreasury’s platform provides a central place for companies to track banking activities and monitor the activities of their financial assets. Its software gives users a complete view of company cash reserves and liquidity, and lets them manage exposures and risk and automate repetitive processes.
“The GTreasury team has built a suite of products that reduces the complexity and workload for treasury departments and allows them to focus on more strategic priorities,” said Mainsail Partners principal Vinay Kashyap in a statement.
“Combined with a deep set of best practices and intellectual property from over 31 years in this business, the consultative and high-touch approach to their clients is second to none," Kashyap continued. "We are excited to invest behind this high-quality management team and a company that is so well positioned in this rapidly evolving market.”
Although Wednesday's round is GTreasury's first round of funding, the Lake Zurich, IL-based company is not exactly a startup. It was founded 31 years ago by Pater and his wife, Peg Pater, who serves as general manager.
GTreasury will use the funding to expand internationally, accelerate product development and enhance its customer service. The company recently announced the opening of its first international office in London.
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