Ohpen landed new funding to fuel its mission to develop the best core banking platform in the world. The Amsterdam-based company earned $17 million in Series B funding from Amerborgh this week, but its total funding remains undisclosed.
The investment boosts the company’s valuation to more than $114 million. Ohpen will use the funding to grow the company geographically, specifically to the U.K. where the company recently opened a new office. Ohpen received approval from the U.K. Financial Conduct Authority in January.
In a press release, Ohpen founder and CEO Chris Zadeh said, “The first step, back in 2009, was to actually develop a whole new core banking engine and offering it as SaaS using cloud technology,” Zadeh added, “The second step was to get a client and create a strong home base. After becoming the number one player in our home market, we knew it was time to enter new markets and truly scale up the company.”
Founded in 2009, Ohpen offers a cloud-based core banking API that gives banks a different option from legacy systems. At FinovateFall 2012, the company explained its multilingual cloud banking platform. Ohpen’s 100 employees have facilitated the execution of 14.6 million transactions in the past 12 months. The company recently won third place in the popular vote of the fintech impact awards at the NRC Live conference.