The global leader in Cloud treasury and finance solutions, Kyriba has announced regarding advanced talks with Bridgepoint, an international private equity group focused on investing in market-leading businesses, to secure a USD160 million investment round. The fund will accelerate innovation and growth of Kyriba’s enterprise platform. The U.S. FinTech firm said in a statement that the deal, once closed, would give Bridgepoint a majority stake in the business, and value Kyriba at USD 1.2 billion. With Bridgepoint, Daher Capital and Iris Capital will remain as investors in the company.
Ahead of this investment, Kyriba Chairman and CEO Jean-Luc Robert said that 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. Moreover, the company noted that its value proposition resulted in record growth in 2018, including surpassing USD110 million in revenue and netting 229 new clients.
As reported, Kyriba announced, earlier this year, its plans to purchase FiREapps, an enterprise currency management provider that will create the industry’s most robust, end-to-end solution for managing FX risk. With the fresh capital, Kyriba will advance its product development, customer support and expand its services, specifically investing USD60 million into product innovation over the next two years.