OpenFin

OpenFin

Operating system for financial applications

About OpenFin

Simplify's Rating
Why OpenFin is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

51-200

Company Stage

Series D

Total Funding

$89.5M

Headquarters

New York City, New York

Founded

2010

Overview

OpenFin provides a modern operating system tailored for the financial industry, serving clients such as banks, asset managers, and hedge funds. Its main product acts as a foundation for financial applications, allowing different software tools to integrate and interact seamlessly. This integration enhances desktop productivity by offering features like unified notifications and smooth data flow between applications. OpenFin stands out from competitors by focusing specifically on the needs of financial professionals, ensuring that its solutions meet the demands for a more connected and efficient working environment. The company's goal is to empower financial institutions to achieve digital transformation quickly and effectively, making their desktop experience more secure and productive.

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Simplify's Take

What believers are saying

  • OpenFin's partnership with Finastra expands its reach in treasury management systems.
  • The rise of 'Workspace as a Service' aligns with OpenFin's Workspace 'Anywhere' technology.
  • Increased demand for low-code platforms supports OpenFin's Microsoft 365 integration.

What critics are saying

  • Emerging fintech startups may erode OpenFin's market share.
  • Over-reliance on key partnerships like Finastra poses potential risks.
  • Regulatory changes in data privacy could require costly platform updates.

What makes OpenFin unique

  • OpenFin offers a unique operating system for financial applications integration.
  • The company provides seamless interoperability between financial software tools.
  • OpenFin's Workspace product enhances desktop productivity with unified notifications and data flow.

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Funding

Total Funding

$89.5M

Below

Industry Average

Funded Over

7 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Below Average

Industry standards

$77M
$35M
OpenFin
$50M
Hello Fresh
$70M
Twilio
$80M
Handshake
$100M
Affirm

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

6%
Fintech News Singapore
May 2nd, 2024
Finastra Leverages OpenFin to Offer Streamlined Treasury Experience

Finastra, a global financial software provider, has teamed up with OpenFin to enhance the user experience in treasury management systems.

FF News
May 1st, 2024
Finastra Selects Openfin To Unlock Advanced User Experiences, Enhanced Productivity And Tailored Workflows For Kondor Customers

Finastra, a global provider of financial software applications and marketplaces, and OpenFin today announced a partnership to redefine the user experience of Finastra Kondor, a leading bank treasury management system. With OpenFin’s technology, Finastra will strengthen Kondor’s visual real estate with enhanced workspaces and workflows to drive greater efficiencies and streamline the decision-making process for banks. The partnership is part of a wider Kondor evolution, which includes leveraging microservices, embedded AI and partner ecosystems to deliver intuitive and persona-based experiences, available via Treasury as a Service (TaaS) and cloud capabilities.Powered by OpenFin’s Workspace “Anywhere” technology, Kondor users will have easy access to the solution either in web browsers such as Google Chrome and Microsoft Edge or as a lightweight desktop app. Whether curating personalized experiences via the micro-UI workspace, or consuming partner applications via unified dashboards, banks benefit from a more seamless, intuitive and value-added treasury management experience wherever they are working.“Enriching Kondor with OpenFin’s software reflects our ongoing commitment to placing our customers at the center of the solution experience,” said Herve Carrere, Chief Product & Technology Officer, Treasury & Capital Markets at Finastra. “Through robust technology and TaaS, we’re giving banks the tools to fast-track their transformation, future-proof their business to evolve with new demands and optimize their entire treasury operations – from full back-office processing through to real-time coverage of credit, market and liquidity risk in the front office. The seamless workspace experience also ensures that users can easily access these tools in the way that works best for them.”“Our collaboration with Finastra enhances Kondor’s already impressive capabilities, making it even more powerful in the complex landscape of treasury trading,” said Adam Toms, Chief Operating Officer at OpenFin

PR Newswire
May 1st, 2024
Finastra Selects Openfin To Unlock Advanced User Experiences, Enhanced Productivity And Tailored Workflows For Kondor Customers

Banks can accelerate their treasury transformation by seamlessly interacting with Finastra's trading and risk management tools, and fintech partner ecosystem, via a web browser or desktop appLONDON, May 1, 2024 /PRNewswire/ -- Finastra, a global provider of financial software applications and marketplaces, and OpenFin today announced a partnership to redefine the user experience of Finastra Kondor, a leading bank treasury management system. With OpenFin's technology, Finastra will strengthen Kondor's visual real estate with enhanced workspaces and workflows to drive greater efficiencies and streamline the decision-making process for banks. The partnership is part of a wider Kondor evolution, which includes leveraging microservices, embedded AI and partner ecosystems to deliver intuitive and persona-based experiences, available via Treasury as a Service (TaaS) and cloud capabilities.Powered by OpenFin's Workspace "Anywhere" technology, Kondor users will have easy access to the solution either in web browsers such as Google Chrome and Microsoft Edge or as a lightweight desktop app. Whether curating personalized experiences via the micro-UI workspace, or consuming partner applications via unified dashboards, banks benefit from a more seamless, intuitive and value-added treasury management experience wherever they are working."Enriching Kondor with OpenFin's software reflects our ongoing commitment to placing our customers at the center of the solution experience," said Herve Carrere, Chief Product & Technology Officer, Treasury & Capital Markets at Finastra. "Through robust technology and TaaS, we're giving banks the tools to fast-track their transformation, future-proof their business to evolve with new demands and optimize their entire treasury operations – from full back-office processing through to real-time coverage of credit, market and liquidity risk in the front office. The seamless workspace experience also ensures that users can easily access these tools in the way that works best for them.""Our collaboration with Finastra enhances Kondor's already impressive capabilities, making it even more powerful in the complex landscape of treasury trading," said Adam Toms, Chief Operating Officer at OpenFin

Business Wire
Mar 18th, 2024
Enterprise Connect’S Expo Hall Features Hundreds Of Innovative Products And Services To Improve Communication, Collaboration, And Cx Strategies

SAN FRANCISCO--(BUSINESS WIRE)--Enterprise Connect, the leading conference and exhibition for enterprise communications and customer experience, will feature hundreds of innovative products and services in the Expo Hall. View the complete list of sponsors and exhibitors here. The technologies help IT professionals improve communication, collaboration and CX strategies. Enterprise Connect 2024 takes place March 25-28, 2024 at the Gaylord Palms in Orlando, FL and digitally. Register here. “Our Expo Hall is the only place to find the enterprise communications and customer experience providers displaying their solutions in one location

Yahoo Finance
Jan 23rd, 2024
OpenFin Announces OpenFin for Salesforce on Salesforce AppExchange, the World's Leading Enterprise Cloud Marketplace

OpenFin announces OpenFin for Salesforce on Salesforce AppExchange, the world's leading enterprise Cloud marketplace.

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