Kyriba, a US-based treasury technology developer backed by payment processing service American Express, received $23m yesterday in a series D round led by Bpifrance, the public investment bank of France.
Bpifrance made its contribution through growth fund Large Venture and was joined by financial services firm HSBC and family office Daher Capital.
Founded in 2000, Kyriba operates a cloud-based platform that includes features such as supply chain finance, risk management, payments and cash management. The money will help the company further develop its technology and to expand into additional countries.
Kyriba has received a total of $113m in funding to date, according to deals database Pitchbook. American Express Ventures, the corporate venturing division of American Express, contributed to a $10.3m funding round in 2001 that was led by GPR.
BIH, the investment unit of financial services provider Commerzbank, Mangrove Capital Partners and financial software developer XRT, through its Cerg Finance Benelux unit, also participated in the 2001 round.
Remaining shareholders in Kyriba include financial services firm Bred Banque Populaire, Iris Capital, Upfront Ventures and eCapital.
Jean-Luc Robert, chairman and CEO of Kyriba, said: “The global market place is changing rapidly, and becoming more challenging for our clients to navigate. 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.”