Operating System (OS) OpenFin has secured a strategic investment from SC Ventures, the FinTech venture business arm of investment bank Standard Chartered.
Standard Chartered’s investment brings OpenFin’s total funding to date to $50 million. The institution joins existing OpenFin investors Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, JP Morgan, NYCA Partners, Pivot Investment Partners, and Wells Fargo Strategic Capital. Terms of Standard Chartered’s investment were not disclosed.
The bank has been a client of OpenFin since earlier this year when it adopted the OS as part of its technology transformation plans across multiple divisions, including the markets business.
OpenFin said that the additional capital will be essential for its product development including building new user interface components for its OS and its desktop-wide notification centre.
“In the financial services workplace of the future, employees need increasingly specific tools to collaborate and serve clients effectively,” said Alex Manson, head of SC Ventures. “We are thrilled to partner with OpenFin as they create such an environment, allowing for personalised design of the workspace and hence transforming the way we think of how conventional financial markets applications are delivered to the user.”
The investment follows a series of partnerships for OpenFin in the last few months. Most recently it supported the launch of a trading desktop application that will support the layout of multiple screens for traders at institutional FX trading platform provider BidFX.
The OS was also deployed in July by start-up equity capital marketplace platform provider Appital to build a desktop application on the OpenFin OS.