Kyriba closes $45m investment led by PE firm Sumeru Equity Partners

Treasury management system Kyriba has closed a $45m equity financing round led by private equity firm Sumeru Equity Partners.

Other backers to the round included Bpifrance, Iris Capital, Daher Capital and HSBC.

San Diego-based Kyriba is a SaaS platform which offers tools for treasury divisions to anticipate market volatility, regulation, fraud and to better leverage growth opportunities. The platform is used by over 1,600 treasury clients and is implemented across the world.

The service can help a company with is cash and liquidity, payments, risk management, financial transactions and supply chain finance.

This new round of funds will be used to further develop its product, customer support and its sales and marketing efforts.

SEP managing partner Kyle Ryland said, ?Kyriba is the clear market leader in cloud-based treasury and financial management. Their platform delivers competitive advantages that enable forward-thinking CFOs and senior financial leaders to exceed their business objectives on a global scale.p>

Following the investment, Sumeru Equity Partners manging partner Kyle Ryland has joined Kyriba board of directors.

Last year Kyriba received a ?23m Series D round led by Bpifrance Large Ventures fund, and also saw contributions from HSBC and Daher Capital. The prior round was used to help with the technology development and customer services improvements. The newest capital injection brings total funding to around $152.5m.

Sumeru Equity Partners has previously made an investment into a financial SaaS-based support platform, backing automated mission-critical financial process platform Blackline in 2013.

In the last quarter, the firm took part in Sweden biggest FinTech deal of the year, with SEP and Ontario Pension Board completing a $120m deal into Snow Software.

Copyright ? 2017 FinTech Global

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