The venture capital arm of Mitsubishi has provided new funding for treasury management firm Kyriba, reports said Monday (Dec. 19).
Mitsubishi UFJ Capital, based in Tokyo, led Kyriba’s Series D funding round, though investors did not reveal how much the company raised.
“We have invested in Kyriba, who have built a scalable cloud-based platform with deeply integrated bank connectivity, payments, risk management and supply chain finance,” said Mitsubishi UFJ Capital President Muneki Handa in a statement. “This architecture is a key differentiator for Japanese and worldwide organizations and drives strategic advantages for organizations using Kyriba’s solution.”
According to reports, Kyriba has a strong presence in the region with more than 50 corporate clients in Japan. The companies did not indicate whether Mitsubishi UFJ Capital was the sole backer in the Series D round, though reports noted that the company now joins existing backers that include HSBC, BPIfrance, Daher Capital and others.
“The investment from Mitsubishi UFJ Capital adds to our strong balance sheet and accelerates development in Kyriba’s finance technology solutions,” the company’s chairman and CEO, Jean-Luc Robert, said in another statement. “We will further enhance our Client Success services as we reinforce our market leadership in Japan.”
Kyriba’s Vice President of Strategy Bob Stark spoke with PYMNTS earlier this year following the company’s announcement of a collaboration with Accuity for supply chain compliance and security.Their deal aims to ensure payments don’t get snagged in the screening process or fall into non-compliance, which, according to Stark, can lead B2B payments to be delayed for up to several days.
Earlier this year Kyriba also announced that it secured American Express Global Business Travel as a client and would provide payment processing services to facilitate transactions to GBT suppliers.