U.S. fintech startup Kyriba Corp. announced on Wednesday it is in advanced talks with Bridgepoint, an international private equity group focused on investing in market-leading businesses, to receive a $160 million investment round to accelerate innovation and growth of its enterprise platform. Kyriba reported that the deal, once closed, would give Bridgepoint a majority stake in the business, and value Kyriba at $1.2 billion. Daher Capital and Iris Capital will remain as investors in the company.
“Bridgepoint will help us fulfill our mission of enabling CFOs and treasury executives to be more agile and efficient in managing their global cash and liquidity. In today’s complex and highly volatile business environment, finance leaders need real-time visibility and pinpoint control over their cash operations to maximize growth and opportunity.”
Kyriba also noted its value proposition resulted in a record growth year in 2018, including surpassing $110 million in revenue and netting 229 new clients. In January 2019, Kyriba announced its plans to acquire FiREapps, an enterprise currency management provider, which will create the industry’s most robust, end-to-end solution for managing FX risk. Andrew Sweet, a New York-based partner at Bridgepoint, added:
“We are very pleased to be engaged with Kyriba in this next stage of growth. Kyriba is a fast-growing company with an impressive track record of double-digit expansion and is the global market leader in cloud-based treasury management software solutions. With a market-leading offering and leadership position in the French and US markets, Kyriba is now well positioned to expand globally and we anticipate that further investment in R&D in particular will support its development in providing clients with comprehensive, end-to-end liquidity management solutions.”