Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
Peter Rippon, OpenGamma

30366

OpenGamma raises USD10 million of growth funding led by Dawn Capital

RELATED TOPICS​

OpenGamma, a specialist in derivatives analytics, has raised USD10 million in funding led by early-stage fintech and B2B software venture capital firm Dawn. 

The funding round includes participation from existing investors Accel, CME Ventures and ex-SunGuard CEO and prolific fintech angel investor Cristóbal Conde.
 
OpenGamma’s analytics solutions allow the world’s banks, hedge funds and asset managers to dramatically reduce the cost of trading derivatives. New regulation is forcing firms to post billions in capital to take market positions with significant increases over the next two years. This is at a time when returns are already under extreme pressure. As a result, efficient use of capital is essential for firms to keep using financial derivatives.
 
The funding follows a period of rapid growth for the business which experienced a 300 per cent increase in recurring revenues in the last 12 months, as well as a geographical expansion across the globe – doubling both the business’ customer base and team.
 
The new funding will enable OpenGamma to continue its accelerated growth strategy as it expands its teams in London, New York and Singapore. It will also allow OpenGamma to enhance its award-winning product portfolio by launching new products in the collateral and treasury space to complement its existing margin product.
 
Josh Bell, General Partner at Dawn Capital, says: “As regulation continues to drive up the cost of trading derivatives, efficient use of capital has become essential for financial institutions to maintain their business models. Top-tier global investment banks and asset managers are all turning to OpenGamma for support, attracted by the depth, coverage and speed of deployment of OpenGamma’s analytics platform. We are delighted to be partnering with Peter and his team as OpenGamma continues to expand its product proposition and geographic footprint.”
 
Bruce Golden, Partner at Accel, says: “Since our original seed investment, OpenGamma has evolved into one of the most sophisticated SaaS businesses focused on making the derivatives market safer and more efficient. Their rapid growth underscores their customers’ reliance on them as a key partner in driving capital efficiency and meeting regulatory obligations. We are delighted to welcome Dawn Capital as our newest syndicate partner, as we support the OpenGamma team in solidifying their position as the global leader.”
 
Peter Rippon (pictured), CEO of OpenGamma, says: “Regulation has created new opportunities for firms like OpenGamma. We work with key market infrastructure providers, including CME Group, Eurex, JSCC as well as top tier banks, to ensure we have access to the models needed to solve a key industry problem: the rising cost of trading derivatives.”
 
“We are excited to be working with Dawn Capital, as we can draw on their expertise in B2B fintech to further accelerate our growth.”

Latest News

EFAMA has commented on today’s vote by the European Parliament in favour of a new..
Morgan Stanley Investment Management (MSIM) has announced the launch of the MS INVF Systematic Liquid..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins..

Related Articles

Juan Nozal, Mapfre Asset Management
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024, in what he predicts will be an outstanding year for this asset class...
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024,..
n response to the increased attention to climate change risk, institutional investors, asset managers, and asset owners in the US are committed to implementing a variety of measures to address climate change and reach their net-zero goals, according to Cerulli Associates...
n response to the increased attention to climate change risk, institutional investors, asset managers, and asset owners in the US..
Lord Hollick, House of Lords
A House of Lords committee has raised “significant concerns” over the role of UK regulators, their ability to operate with genuine independence from government and how they are held to account...
A House of Lords committee has raised “significant concerns” over the role of UK regulators, their ability to operate with..
Rob Edwards, Morningstar
The complexities of assessing performance from responsible investment strategies have been laid bare after Morningstar’s ESG indices delivered a mixed bag in 2023...
The complexities of assessing performance from responsible investment strategies have been laid bare after Morningstar’s ESG indices delivered a mixed..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by