Treasury management solution provider GTreasury has secured a $42m investment from Mainsail Partners.
The platform centralises all incoming and outgoing banking activities and tracks all financial instrument activities to help a company see cash and liquidity. The solution helps to manage risk and exposures, as well as automating and streamlining treasury tasks.
This SaaS solution offers real-time insight to a businesses liquidity, as well as simplifying and speeding up accounting tasks.
With this new wave of capital, the company will increase product development, expand internationally, and improve its customer services.
Mainsail Partners principal Vinay Kashyap said, “Due to a number of factors, the role of the treasury department at enterprise corporations has become increasingly difficult and more important than ever. Rapid globalization, economic volatility and changing regulations have added complexity for Treasurers, putting more pressure on their organizations.”
Alongside the funding round, the company opened an office in London, its first international office, to help support the global growth.
Recent months have seen several funding rounds into treasury management companies, with TreasuryXpress closing a $5m growth investment earlier this month. The investment will be used to help the company meet growing market demands. Last month Kyriba closed a $45m equity financing round led by Sumeru Equity Partners, to support the company with product development.
The global infrastructure and enterprise software sector saw a its weakest quarter of the year, so far, with Q3 bagging $750m. This figure is in comparison to the previous quarter which saw $1.7bn deployed in just 11 more deals.
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