BPI et al. in $23m series-D round for Kyriba

Alice Tchernookova
30 September 2016

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BPI France has led a $23m series-D round of funding for fintech group Kyriba, joined by previous investors HSBC and Daher Capital.

Investing through its €600m Large Venture vehicle, BPI joined the company's existing pool of investors, which aside from HSBC and Daher also includes Bred Banque Populaire, Iris Capital and Upfront Ventures.

Kyriba will use the funds to finance product innovation, including in risk management, supply chain finance, payments, cash management and bank connectivity. It will also look to enter new markets.

Previous funding
In June 2001, Global Retail Partners (GRP) led a $10.3m second round for Kyriba. American Express, Mangrove Capital Partners, Commerzbank and XRT Group also invested alongside GRP. Commerzbank, which was also the company's first client, invested via its institutional investment arm, BIH. XRT, which invested via XRT-Cerg Finance Benelux, and the company's original backer, e-Capital, kept a joint 15% equity stake in the business.

In March 2007, Bred along with existing investor GRP invested $14.4m in the second round of funding for Kyriba. The following year, a $7m round saw Coface join the pool of investors. In 2010, the company welcomed Iris Capital as new backer, as the GP took part in a $10.6m round.

Finally, last year, the group secured a series-C $21m funding round in which HSBC joined the pool of existing investors. The capital helped support Kyriba's global expansion.

Company
Kyriba is a fintech company providing corporate treasury software. Its Proactive Treasury Management product offers the opportunity for treasury departments to better anticipate and plan for market volatility, regulation and fraud, as well as optimise cash and risk management.

Kyriba was established in 2000 in Saint-Cloud, near Paris, and now counts in excess of 420 employees, 160 of whom are based in France. It services 1,300 organisations and 40,000 users, and is headquartered in San Diego (formerly in Paris), with offices in New York, Paris, London, Tokyo, Hong Kong, Singapore and Rio de Janeiro.

People
BPI France – Nicolas Herschtel (investment director); Maïlys Ferrère (director Large Venture arm); Antoine Izsak (investment associate).