This $1.2 billion San Diego fintech unicorn backed by Bridgepoint says its new payments partnership with JPMorgan is a 'game changer'
Summary
The financial-management technology firm Kyriba says its partnering with JPMorgan for a real-time payments service — a move the San-Diego based company calls a "game changer." Kyriba, founded in 2000, plans to use JPMorgans application programming interface to allow clients of both firms to send payments in the US via a network. "CFOs are predominantly concerned about access to cash and asset protection in the form of interest rates and FX hedging, alongside compliance and security, and we can offer that," Kyriba CEO Jean-Luc Robert told Business Insider in an interview. Kyriba helps corporates and CFOs manage liquidity, as well as compliance and foreign-exchange risk, through software that allows businesses to identify payments across their company in real time. In March, the company sold a majority stake to the London-based hedge fund Bridgepoint in a $160 million deal that gave Kyriba its $1.2 billion valuation.
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