Kyriba swipes $23m for treasury management software

Treasury management software firm Kyriba has raised $23m in a Series D round of funding led by Bpifrance’s growth fund Large Ventures.

Participation also came from existing backers HSBC and Daher Capital.

The company’s SaaS platform offers tools for treasury departments to better anticipate and plan for market volatility, regulation, fraud and better leverage opportunities for growth.

Bpifrance Large Ventures’ investment director Nicolas Herschtel said, “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.”

The company says it will use the capital to further develop its product and improve its client services.

The San Diego-based firm says it will also use the funding to expand its geographical reach.

The round brings Kyriba’s funding to more than $107.5m in total with it previously raising a $21m Series C round led by HSBC.

Copyright © 2016 FINTECH GLOBAL