Wall Street big beasts go all in on OpenFin
16 February 2017 | 5002 views | 0
Some of Wall Street's biggest firms have participated in a $15 million financing round for capital markets software house OpenFin.
Participants in the round include Bain Capital Ventures, DRW Venture Capital, JPMorgan, NEX Group’s fintech investment business Euclid Opportunities, Nyca Partners, and Pivot Investment Partners, alongside an undisclosed list of angel investors and financial industry executives.
Underpinned by Google's Chromium engine, OpenFin's software provides a fast front-end upgrade path and unified interface for desktop applications commonly found in the trading rooms of big ticket US brokerages. The firm's open source-based technology stack enables clients to run high-performance, multi-window HTML5 applications on sell-side and buy-side desktops, cutting update times for UI refreshment and new app deployment from 6-18 months to instant.
Michael McFadgen, managing director, Euclid Opportunities, says: “We are currently in the process of bringing a number of our NEX Optimisation services onto the OpenFin platform. The ability to provide a cohesive and unified user experience is extremely powerful, and it makes our services more nimble allowing us to stay in front of innovations in any market. OpenFin has the ability to bring that kind of unification to the entire financial industry."
Combined with previous Series A and seed rounds of investments, OpenFin has so far raised a total of $22 million in venture funding.