Dublin-based insurance tech provider Fineos, has secured A$40 million from 'professional and other institutional investors' in funding to ‘strengthen capital position’ giving the firm "the financial flexibility to deliver on our growth strategy," said Michael Kelly, the company’s founder and CEO.
The funding comes in the form of $35 million fully underwritten from institutional investors and a further 'conditional' $5 million from Kelly himself subject to shareholder approval at the company's next AGM.
Kelly thanked Fineos' security holders ‘for their strong support’.
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