OpenFin chalks up $50mn funding to date as SC Ventures latest to invest

OpenFin announced an investment from SC Ventures, the innovation, fintech investment and ventures arm of Standard Chartered bringing total funding to date to $50 million. This latest round is intended for expansion of product and engineering teams, and to accelerate developments such as the fintech’s new desktop-wide Notification Center.

Other backers include Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, J.P. Morgan, NYCA Partners, Pivot Investment Partners and Wells Fargo Strategic Capital, among others.

Standard Chartered adopted OpenFin’s technology earlier this year, and it’s expected that the operating system will see a significant increase in usage across Asia, Africa and the Middle East as a result of the bank’s diversified client geographies. The software is now used at more than 1,500 banks and buy-side firms across nearly 250,000 desktops in 60+ countries.

“In the financial services workplace of the future, employees need increasingly specific tools to collaborate and serve clients effectively,” said Alex Manson, global head of SC Ventures, in a statement.

Mazy Dar, co-founder and CEO of OpenFin, said in a statement: “The pace of innovation at such a large financial institution has been truly astounding. We look forward to a close collaboration as we work to modernize the industry’s app infrastructure.”

Read the full release

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