HSBC has joined a Series C financing round in OpenFin, bringing the total amount raised by the desktop OS operator to $22 million and total funding to date to $45 million.
Founded in 2010 by former ICE executive Mazy Dar and Chuck Doerr, OpenFin provides a foundation for banks to more easily upgrade desktop applications across front and back office functions. The company says it currently supplies more than 200,000 desktop applications to more than 1500 buy-side and sell-side firms.
Proceeds from the financing will be used to expand its product offering into Asian markets.
HSBC, which contributed $5 million to the round, is already using OpenFin OS across its terminal estate, including internal applications and client-facing technology.
Niall Cameron, head of corporate and institutional digital at HSBC, comments: "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."
HSBC joins a noteworthy group of OpenFin investors, including Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, JPMorgan, NYCA Partners, Pivot Investment Partners, and Wells Fargo.