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OpenFin raises 15 million USD from J.P. Morgan and NEX Group

First Published 17th February 2017

OpenFin financial desktop applications firm raises USD 15 Million, led by J.P. Morgan, Euclid Opportunities, Bain Capital Ventures and others.

Mazy Dar, OpenFin

Mazy Dar, OpenFin

New York and London - OpenFin, the financial desktop applications firm, has announced $15 million in Series B funding from a number of major fintech investors. Participants in this round include Bain Capital Ventures, DRW Venture Capital, J.P. Morgan, NEX Group's fintech investment business Euclid Opportunities, Nyca Partners, and Pivot Investment Partners.

Wall Street is powered by thousands of desktop applications that provide real-time market data, news, research, collaboration services and direct trading capabilities for millions of daily financial transactions worth trillions of dollars. OpenFin uses an open technology stack to create a common operating layer for these applications.

"Move fast and break things' became the mantra of Silicon Valley years ago and created a mindset that has accelerated an extremely profitable consumer software boom - and now we're bringing it to Wall Street," said Mazy Dar, CEO and co-founder of OpenFin. "Our mantra at OpenFin is: 'Move fast. Break nothing.' Our operating environment brings the same rapid innovation cycle to change-resistant capital markets without sacrificing the security and stability of these mission-critical systems."

Michael McFadgen, Managing Director, Euclid Opportunities: "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."

The technology underpinning OpenFin is Google's Chromium engine which runs on Windows, Mac and Linux. Combined with their Series A and seed rounds of investments, OpenFin has raised a total of $22 million in venture funding.