OpenFin, the operating system (OS) of finance, announced that HSBC has joined its Series C financing round, bringing the total amount raised in this round to $22 million and total funding to date to $45 million.
OpenFin will use the latest round of financing to expand its product offering into Asian markets and to fund new product initiatives. Now used at more than 1,500 banks and buy-side firms across nearly 200,000 desktops in 60+ countries, OpenFin’s web-based operating system has become a de facto standard in capital markets.
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HSBC, among the largest banks in the world, brings a dynamic and global addition to OpenFin’s strategic partnerships. HSBC is already using OpenFin OS to power its digital desktop strategy, including internal applications and client-facing technology. The new financing further aligns the firms as HSBC looks to leverage OpenFin more broadly across its Group.
HSBC joins a noteworthy group of OpenFin investors, including Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, J.P. Morgan, NYCA Partners, Pivot Investment Partners, and Wells Fargo.
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“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,” said Niall Cameron, Head of Corporate and Institutional Digital at HSBC.
“We are delighted that HSBC has chosen to back OpenFin. 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,” said OpenFin CEO Mazy Dar.
