OpenFin Banks $35M in BoA-Led Funding Round
- Several other existing and new investors participated in the funding round.
- The company will use the proceeds to accelerate the adoption of its products.
OpenFin, a provider of enterprise operating systems for financial institutions, has closed its Series D funding round by securing $35 million. According to the press release, the company will use the proceeds to accelerate the adoption of OpenFin OS “across the financial industry and beyond.”
Big Names Back OpenFin
The funding round was led by Bank of America and witnessed “significant participation” from Pivot Investment Partners and ING Ventures. Other investors in the funding round include CME Ventures, CTC Venture Capital, SC Ventures, and Tribeca Early Stage Partners.
“This is a significant milestone in OpenFin’s mission to enable openness, app interoperability, and end-user productivity across the financial industry,” said the CEO of OpenFin, Mazy Dar.
“We’re delighted to welcome Bank of America as our newest strategic investor, and we’re grateful for the continued support from Pivot Investment Partners and so many other existing investors.”
The Company Is in the Growth Phase
Additionally, the official press release highlighted that the funding came while the company is growing rapidly. Its software is used by more than 3,800 banks, wealth and asset management firms in over 60 countries.
According to Crunchbase, OpenFin raised $47 million in the previous funding rounds. The company is already backed by Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, J.P. Morgan, NYCA Partners, and Wells Fargo Strategic Capital as investors.
Last September, OpenFin revealed that ING Ventures backed the company in a strategic funding round. However, it did not disclose any amount. In addition, it expanded into the government sector with a partnership and investment from In-Q-Tel (IQT).
“OpenFin provides the financial industry with a truly open workspace platform that is unrivaled when it comes to app distribution, security, interoperability, scale and governance,” said Dinkar Jetley, the Co-Founder and Managing Partner at Pivot Investment Partners. “We have backed OpenFin’s vision since 2015 and are delighted to support the company as they expand across the financial sector and beyond.”
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OpenFin, a provider of enterprise operating systems for financial institutions, has closed its Series D funding round by securing $35 million. According to the press release, the company will use the proceeds to accelerate the adoption of OpenFin OS “across the financial industry and beyond.”
Big Names Back OpenFin
The funding round was led by Bank of America and witnessed “significant participation” from Pivot Investment Partners and ING Ventures. Other investors in the funding round include CME Ventures, CTC Venture Capital, SC Ventures, and Tribeca Early Stage Partners.
“This is a significant milestone in OpenFin’s mission to enable openness, app interoperability, and end-user productivity across the financial industry,” said the CEO of OpenFin, Mazy Dar.
“We’re delighted to welcome Bank of America as our newest strategic investor, and we’re grateful for the continued support from Pivot Investment Partners and so many other existing investors.”
The Company Is in the Growth Phase
Additionally, the official press release highlighted that the funding came while the company is growing rapidly. Its software is used by more than 3,800 banks, wealth and asset management firms in over 60 countries.
According to Crunchbase, OpenFin raised $47 million in the previous funding rounds. The company is already backed by Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, J.P. Morgan, NYCA Partners, and Wells Fargo Strategic Capital as investors.
Last September, OpenFin revealed that ING Ventures backed the company in a strategic funding round. However, it did not disclose any amount. In addition, it expanded into the government sector with a partnership and investment from In-Q-Tel (IQT).
“OpenFin provides the financial industry with a truly open workspace platform that is unrivaled when it comes to app distribution, security, interoperability, scale and governance,” said Dinkar Jetley, the Co-Founder and Managing Partner at Pivot Investment Partners. “We have backed OpenFin’s vision since 2015 and are delighted to support the company as they expand across the financial sector and beyond.”
Hantec Markets’ brand ambassadors; FlexTrade brings AI; read today's news nuggets.