Financial software provider Kyriba is in talks with private equity firm Bridgepoint for a US$160mn investment round as it seeks to boost its product offering and expand around the world.

Once closed, the deal would make Bridgepoint the majority stakeholder in the business, valuing it at US$1.2bn. Almost 40% of the investment has been earmarked for product innovation over the next two years, the company says. “Kyriba is investing US$60mn to continue our leadership in treasury management and expand functionality across FX risk management, payments and working capital, while also evolving into the next phase of technology development with robotic process and artificial intelligence,” Bob Stark, the company’s vice-president of strategy, tells GTR.

Kyriba is a cloud treasury solution provider which offers products such as working capital solutions, dynamic discounting and supply chain finance to over 2,000 organisations worldwide. It works by connecting siloed financial systems, such as bank and enterprise resource planning (ERP) systems – to enable firms to improve cash and risk management, payments and working capital optimisation. Recent achievements include a partnership with global bank HSBC to launch a new supply chain finance platform in the Middle East, while in January, the company announced its plans to acquire enterprise currency management solution provider FiREapps.

Andrew Sweet, a New York-based partner at Bridgepoint, says: “We anticipate that further investment in R&D in particular will support [Kyriba’s] development in providing clients with comprehensive, end-to-end liquidity management solutions.”

Once the transaction closes, Kyriba will continue to be led by CEO Jean-Luc Robert and will operate with its current management structure and strategy.