Kyriba, the US-based operator of a cloud-based treasury and finance management platform, raised $45m from investors including financial services firm HSBC on Wednesday.
Private equity firm Sumeru Equity Partners (SEP) led the round, which also featured French state-owned investment bank Bpifrance, venture capital firm Iris Capital and family office Daher Capital.
Kyriba has built a secure, cloud-based platform that can be used to manage organisational finances and protect against fraud or money loss. It offers cash and risk management, payments and supply chain finance tools, and the software can connect to client’s bank.
All the investors in the latest round bar Sumeru took part in Kyriba’s $23m series D round in September 2016, which increased the company’s overall funding to $113m according to Pitchbook data.
Japan-headquartered bank Mitsubishi UFJ Financial Group’s VC arm, Mitsubishi UFJ Capital, which first invested in Kyriba in 2014, added an undisclosed sum to the series D round in December.
HSBC, fellow financial services firm Bred Banque Populaire, Iris Capital, Daher Capital and Upfront Ventures had previously funded Kyriba’s $21m series C round in 2015.
Kyriba’s other investors include payment services firm American Express, Upfront Ventures and Mangrove Capital Partners, which supplied $10m for the company in 2001, as well as Mizuho Bank’s corporate venturing unit, Mizuho Capital.
Jean-Luc Robert, chairman and chief executive of Kyriba, said: “We are seeing strong global demand for modernising treasury and financial operations, and are thrilled to receive the support of SEP and our existing strategic partners to help accelerate our growth.”