Today Japan’s SBI Holdings announced a $20 million Series C investment in OpenLegacy, an API firm that helps customers to innovate on top of legacy systems. The startup has numerous high profile financial clients, including Citi, BNP Paribas-Cardi and FIS in banking and payments as well as Liberty Mutual and AIG in insurance. However, it also has several major clients in other sectors.
According to CrunchBase, OpenLegacy previously raised $41 million from Silverhorn Investments and Rafael Development Corporation. SBI is investing in OpenLegacy Ltd in Israel, although the operating headquarters of OpenLegacy Inc are in New Jersey, U.S.A.
The Japanese investor is very active in both banking and insurance. It wants to leverage OpenLegacy’s technology for the MoneyTap app and says it will recommend OpenLegacy for the digital transformation of regional banks.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
