Irish financial technology company Fenergo is set to raise $58 million in fresh funding in a deal that could value the business at more than $581 million.
The proceeds will be used to pay down debt and add capital onto its balance sheet to fund expansion plans.
Fenergo is about to appoint an adviser as it expects to complete a new equity raise by the end of the year.
The company has also bought out U.S. investor Aquiline, one of its original backers, with short-term debt funding from Silicon Valley Bank and New York-based financial services company Goldman Sachs.