ABN Amro Capital, the private equity arm of the Dutch bank, has led investment in the €10m ($8.9m) financing round in Fineos, the Irish banking software firm.

Other investors included Enterprise Ireland, the Allied Irish Bank Information Technology Fund, and Fineos directors and employees. Fineos will use the funding to accelerate its expansion in Europe and the US, to strengthen its direct and indirect sales force and expand research and development. Nicolaas Heij, senior vice president at ABN Amro Capital, said: &quotThis is ABN Amro Capital's first investment in an Irish software company. We feel Fineos offers tremendous potential. It has a strong track record of revenue and profits growth, allied to a strong portfolio of products and referenceable blue-chip customers.&quot ABN Amro Insurance is among Fineos's clients.