OpenFin has raised $17 million in its Series C funding round, which was led by Wells Fargo.
OpenFin is a financial operating system whose technology has been adopted by over 1,500 major banks across 60 countries. Interoperability serves as the base of the system’s technology, allowing them to share information, intent, and context with third party apps in a permissioned manner.
This latest round of funding saw major contributions from Wells Fargo, with participation from Barclays and existing investors, including Bain Capital Ventures, JP Morgan and Pivot Investment Partners. This round brings OpenFin’s total amount of venture funding to $40 million.
“Apple and Google’s mobile operating systems and app stores have enabled more than a million apps that have fundamentally changed how we live. OpenFin OS and our new app store services enable the next generation of desktop apps that are transforming how we work in financial services,” says Mazy Dar, CEO and co-founder of OpenFin.
Basil Darwish, managing director of strategic investments at Wells Fargo Securities, comments: “OpenFin is leading a key effort in providing the financial industry with a modern and unifying foundation for development and secure distribution of financial applications. We are delighted to lead OpenFin’s Series C funding round and excited to support the next phase of their development.”
Brett Tejpaul, head of digital and client strategy at Barclays Investment Bank, adds: “OpenFin accelerates our innovation cycle and allows us to create better workflows, enabling our colleagues and clients to make more productive use of their time. We are pleased to support the company which is a leader in the industry with its open source model and its commitment to industry collaboration.”
Profit & Loss recently reported that AllianceBernstein is set to Adopt OpenFin Operating System.