OpenFin Secures $17 Million Through Series C Funding Round Led By Wells Fargo

Operating system of finance, OpenFin, announced on Thursday it secured $17 million through its Series C funding round, which was led by Wells Fargo with participation from Barclays and existing investors including Bain Capital Ventures, J.P. Morgan and Pivot Investment Partners. Founded in 2010, OpenFin explained that it enables rapid and secure deployment, native experience and desktop interoperability. The company deploys more than 1,000 desktop applications to more than 1500 buy-side and sell-side firms.

“At OpenFin, we’ve built the operating system of finance to modernize desktops and accelerate innovation. Our mission is to provide a unifying foundation for the next generation of financial industry applications.”

Speaking about the company’s growth and development since launching, Mazy Dar, CEO and Co-Founder of OpenFin, stated:

“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.”

Commenting on the investment round, Basil Darwish, Managing Director, Strategic Investments at Wells Fargo Securities, also shared:

“We have been following OpenFin’s progress and are impressed by the company’s success in gaining wide adoption in capital markets. 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.”

OpenFin added that the funds from the investment round will be used to make OpenFin OS ubiquitous on financial desktops and to fund further product innovation. This includes OpenFin’s new Cloud Services offering, which enables banks, asset managers, wealth managers and hedge funds to provide their own private app stores for employees and customers out of the box. The Series C round brings OpenFin’s total amount of venture funding to $40 million. 

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