California-based fintech startup Kyriba Corp. announced on Thursday it has successfully secured $23 million during its recent Series D funding round, which was led by Bpifrance. Additional investors included HSBC (NYSE: HSBC) and Daher Capital.
The company stated it plans to use the funds to deepen its product innovation across its suite of solutions, including risk management, supply chain finance, payments, cash management, and bank connectivity. It will also use the funds to provide further enhancements to its client success services and offer support for the company to enter new geographies. Jean-Luc Robert, chairman and CEO of Kyriba, stated:
“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.”
Nicolas Herschtel, investment director at Bpifrance Large Venture, added:
“Bpifrance is delighted to support Kyriba’s management that successfully transformed a French technology into a globally successful company. Bpifrance believes in Kyriba’s vision, and sees the opportunity for Kyriba to accelerate its global leadership position in cloud cash management solutions. 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 where and when they need it most.”
Other existing investors of Kyriba are BRED Banque Populaire, Daher Capital, Iris Capital and Upfront Ventures.
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