ING Ventures announces investment in OpenFin

Operating system for enterprise productivity OpenFin today announced that it has secured a strategic investment from ING Ventures, the venture capital business unit of ING. According to the original announcement shared with LeapRate, this is the 7th major financial institution to invest in OpenFin. The company noted that this capital will speed up OpenFin OS’s expansion throughout the financial industry.

OpenFin’s web-based OS powers next-generation applications and digital experiences for financial services firms employees and clients. Over 2,400 banks, wealth and asset management firms use this software in more than 60 countries.

The new investment follows a period of growth for firm. Last year the it launched OpenFin Workspace, the new visual interface of its OS which includes components for complex windowing, advanced search, actionable notifications and application discovery. The OS is built on Google’s Chromium engine. The software simplifies app distribution, unifies the digital workspace and enables seamless communication and workflow between apps.

The latest round of capital will be used for OpenFin OS’s expansion. This software is already being used by 23 of top 25 global banks as well as many of the world’s leading asset managers and financial services vendors.

ING started using OpenFin’s technology in 2021 to accelerate their desktop transformation strategy. The company’s employees now have access to easy workspace management and automated workflows.

Frederic Hofmann, Co-Head of ING Ventures said:

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 said:

Adam Toms, OpenFin

Adam Toms
Source: LinkedIn

We are delighted to have the backing of ING Ventures as we accelerate our expansion across Financial Services. ING’s focus on innovation and their footprint across the world makes them an ideal partner for OpenFin.

OpenFin investors include firms like Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, HSBC, J.P. Morgan, NYCA Partners, Pivot Investment Partners, SC Ventures and Wells Fargo Strategic Capital.

In the beginning of the year Edgewater Markets partnered with OpenFin to provide extended native desktop capabilities for FX traders.

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