OpenFin, an operating system (OS) provider to the finance industry, has raised an undisclosed amount of investment from SC Ventures.
SC Ventures is the innovation, fintech investment and venture capital arm of banking giant Standard Chartered.
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The bank was joined by other OpenFin investors including Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, JP Morgan, NYCA Partners, Pivot Investment Partners and Wells Fargo Strategic Capital.
The latest funding round brings the total amount raised by OpenFin to date to $50m.
OpenFin will use the fresh capital for accelerating its product development and expand its engineering teams.
It will be used to create new user interface components of OpenFin OS, including OpenFin’s new desktop-wide Notification Center.
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By GlobalDataBuilt on Google’s Chromium engine, its web-based OS powers financial apps and desktops.
Over 1,500 banks use this software, across 250,000 desktops in more than 60 countries.
OpenFin co-founder and CEO Mazy Dar said: “We are incredibly excited to welcome Standard Chartered as a customer and investor.
“We look forward to a close collaboration as we work to modernize the industry’s app infrastructure.”
Standard Chartered already adopted the OS earlier this year for boosting its internal and client-facing technology transformation.
Its diversified client geographies will help increase the usage of OpenFin OS in Asia, Africa and the Middle East regions, significantly.
SC Ventures Alex Manson said: “We are thrilled to partner with OpenFin as they create such an environment, allowing for personalized design of the workspace and hence transforming the way we think of how conventional financial markets applications are delivered to the user.”
In October 2020, Israel-based passwordless authentication specialist for enterprises Secret Double Octopus also received a strategic investment from SC Ventures.
