Kyriba scores $23 million fund raise
30 September 2016 | 4423 views | 0
Kyriba Corp., the global leader in cloud treasury management solutions, has raised $23 million (USD) in a Series D funding round led by Bpifrance, with additional capital from existing investors HSBC (NYSE: HSBC) and Daher Capital.
Kyriba will use the funds to deepen its product innovation across its suite of solutions, including risk management, supply chain finance, payments, cash management, and bank connectivity. Additionally, the funds will provide further enhancements to its client success services, and to offer support for the company to enter new geographies.
“The global market place is changing rapidly, and becoming more challenging for our clients to navigate,” said Jean-Luc Robert, chairman and CEO of Kyriba. “We are well funded with a strong balance sheet, and in a competitive environment, we are able to deliver a solution to meet these market demands. Kyriba’s Fintech solution, which simplifies and secures global payments, adds cash visibility, and cash optimization with supply chain finance, is a natural fit for Bpifrance, who strives to strengthen Fintech innovation in France and around the world.”
“Bpifrance is delighted to support Kyriba’s management that successfully transformed a French technology into a globally successful company,” said Nicolas Herschtel, investment director at Bpifrance Large Venture. “Bpifrance believes in Kyriba’s vision, and sees the opportunity for Kyriba to accelerate its global leadership position in cloud cash management solutions. Kyriba’s initial decision to deliver bank connectivity and treasury management in the cloud with a SaaS delivery model puts its payments, risk management, and supply chain finance solutions in an optimal position to serve banks, corporates and multinationals where and when they need it most”
Bpifrance, through its growth fund Large Venture joins a distinguished list of existing Kyriba investors: HSBC, BRED Banque Populaire, Daher Capital, Iris Capital and Upfront Ventures.