Fintech software company OpenGamma lands $13.3m Series D

London-based provider of over-the-counter derivates contracts solutions will use funding for expansion

OpenGamma, a developer of financial technology (fintech) software, has closed a $13.3m Series D funding round led by Accel and ICAP, alongside Cristóbal Conde – CEO and president of SunGard and an independent non-executive board member of  OpenGamma’s board since 2014.

Started in 2009 by Kirk Wylie and a number of industry experts, London-based OpenGamma’s is an open-source analytics and risk management platform for derivatives trades. Its software enables financial services firms to analyse and understand over-the-counter (OTC) or privately-negotiated derivates contracts and inform decision making.

The company’s customers can use its software to understand banks’ business lines, relationships and pricing, seeing how different commercial terms affect their spend and simulate different products based on the estimated cost of trading.

The funding – which follows a $2.15m Series A in 2009, a $6m Series B in 2011 and a $15m Series C round in August 2012 – will be used to fuel further expansion and reach more customers.

Peter Rippon, the newly appointed CEO of OpenGamma, said: “We’ve demonstrated that we are an innovative and effective developer of technology solutions for the financial community.

“This investment now lets us build from these solid foundations to become a world-class partner and provider of benchmark industry solutions.”

Bruce Golden, partner at Accel, added: “While OpenGamma cut its teeth on open source software, they have embraced the broader shifts in technology.

“By focusing on delivering the best-in-class cloud-based, modular solutions for the financial markets, the firm is positioning itself to become the market standard for derivatives risk analytics.”


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