OpenFin, an operating system (OS) provider to the finance industry, has received an investment of $5m from British banking major HSBC in its Series C financing round.

The latest round brings the total fund raised by OpenFin in the round to $22m.

In May this year, the company raised $17m in Series C funding round that was led by Wells Fargo. The round was also joined by Barclays and its existing investors Bain Capital Ventures, JP Morgan and Pivot Investment Partners.

Overall, the New York based firm has raised a total $45m to date.

OpenFin claims that its web-based operating system is used by more than 1,500 banks and buy-side firms.

HSBC already uses OpenFin operating system to power its desktops including internal applications and client-facing technology.

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HSBC head of corporate and institutional digital Niall Cameron said: “Desktop container technology is an important component of our digital transformation strategy across the bank.

“OpenFin has demonstrated that it is a leader in this space and HSBC is looking forward to working together on shared application infrastructure for the financial industry.”

OpenFin intends to use the proceeds to expand its product offering in Asian market and support new product initiatives.

OpenFin CEO Mazy Dar said: “Global banks such as HSBC are at the core of the financial industry’s app ecosystem.

“Their dual role as an innovative developer of proprietary apps and as a major consumer of third-party apps makes them an important partner as we work to transform the financial industry’s app infrastructure.”