Fineos Raises A$40 Million in Funding

by Kay Aloha Villamor in

Fineos, a Dublin, Ireland-based insurance software company raised A$40 million to strengthen its balance sheet and provide general working capital.

The funding raised comprises a fully underwritten A$35 million institutional placement and a A$5 million “conditional placement” from Fineos founder and CEO Michael Kelly.

The latest funding will be used to continue Fineos’ growth plans and to maintain flexibility for the timing of cash flows. This funding was used to provide working capital to support R&D and growth opportunities.

“The placement proceeds significantly strengthens our capital position and provides Fineos with the financial flexibility to deliver on our growth strategy,” Fineos CEO Michael Kelly said. “We thank our security holders for their strong support of Fineos.”

Fineos develops software systems for life, accident, and health insurance carriers. The company has more than 50 customers globally, including Aviva, APL, Amica, FBD, and New Ireland.

Company: Fineos Corporation Holdings PLC

Raised: A$40.0M

Round: Unknown 

Funding Month: August 2023

Lead Investors: 

Additional Investors: Michael Kelly

Company Website:

Software Category: Insurance Software

About the Company: Founded in 1993 by Michael Kelly, Fineos is a global software company providing modern customer-centric core software to the Employee Benefits and Life, Accident, and Health industry. The Fineos platform provides clients with a complete end-to-end SaaS core product suite that includes Fineos AdminSuite, Fineos Engage, and Fineos Insight.


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