OpenFin, the US-based operator of a financial technology application platform, increased its series C round to $22m on Wednesday, pulling in $5m from financial services firm HSBC’s Strategic Innovation Investments unit.
Wells Fargo led the round’s $17m first tranche in May this year, investing alongside another financial services firm, Barclays, as well as investment bank JP Morgan Chase, Pivot Investment Partners and Bain Capital Ventures.
OpenFin bills itself as the operating system for the financial services industry, having formed a platform with more than 1,000 desktop applications for use by banks and buy-side financial services providers. The cash will fund the development of new products and expansion in Asia.
Niall Cameron, head of HSBC’s corporate and institutional digital division, 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.”
The round almost doubles OpenFin’s overall funding to $45m, including $4m in a 2014 series A round led by Bain Capital Ventures, private equity firm Bain Capital’s venture capital arm.
JP Morgan Chase, Bain Capital Ventures and Pivot Investment Partners joined DRW Venture Capital and Euclid Opportunities, subsidiaries of trading firm DRW and brokerage group NEX respectively, as well as Nyca Partners and various private investors to add $15m in early 2017.
The company also identified CME Ventures, the corporate venturing vehicle for exchange operator CME Group, as an existing investor this week.
