Xero has raised $180 million, mostly from United States investors, in its largest capital raising to date.
The issue of 9.92 million new shares was priced at $18.15, 20 cents above the $17.95 price that Xero shares last traded at on Thursday.
Trading in Xero shares was suspended on Thursday, while it finalised the capital-raising, and will resume today.
Xero said Matrix Capital Management and Peter Thiel's investment company Valar Ventures were among existing shareholders that participated in the fund-raising. Of the total raised, $147m came from US investors.
Xero held $55m in cash at the end of June.
Chief financial officer Ross Jenkins said last week that Xero had decided to top up the tank to ensure it had sufficient capital to capitalise on its opportunities and continue its aggressive growth strategy.