ING Ventures, the venture capital branch of ING bank, has invested “around $10 million” in the operating system (OS) of enterprise productivity, OpenFin.
The investment is earmarked to broaden OpenFin’s reach across financial services, and expedite their OS expansion in the industry. The company’s technology is currently being used by over 2,400 banks, wealth and asset management firms in over 60 countries.
The OS utilises Google’s Chromium engine to facilitate workflow between apps and streamline communication, and its technology has been used by financial institutions worldwide to design the digital workspace. Features of OpenFin Workspace include advanced search, application discovery, and components for complex windowing.
Frederic Hofmann, co-head of ING Ventures commented: “Our investment in OpenFin further validates our determination and commitment to digital transformation and innovation. We are excited to partner with OpenFin as they have proven to be the best in class app platform in this space, transforming distribution and significantly enhancing end-user productivity across the finance industry.”
Adam Toms, chief operating officer at OpenFin stated: “Having another strategic investor like ING on board who is focused on a business transformation agenda is key. At OpenFin we have always been focused on solving problems for the entire industry, the ING Ventures investment allows us to accelerate the delivery of OpenFin Workspace across the industry, transforming front office to back office desktops."
Also investing in OpenFin are big players including Barclays, HSBC, JP Morgan, Wells Fargo, Strategic Capital, Bain Capital Ventures, and NYCA Partners.