Genesis Global, a technology platform that helps financial institutions build new applications, announced on Wednesday that it has raised $20M (approximately €19.55M) in a fresh round of funding.
The investment came from Bank of America (BOA), BNY Mellon and Citi. These strategic investments follow the company’s $200M Series C funding announced in February.
David Trepanier of BOA says, “Our clients and environment demand more innovation and productivity in terms of IT output. The low-code solution provided by Genesis accelerates the development process and allows us to more quickly build out and launch new trading protocols and processes.”
Avi Shua of BNY Mellon adds, “Our investment in and collaboration with Genesis allows us to create applications and solutions faster to meet the increasing demands of our clients. The ability to develop, customise and integrate applications with speed is critical and provides our developers with a toolset to make robust and flexible platforms that can scale.”
Brief about Genesis Global
Founded in 2012 by James Harrison and Stephen Murphy, Genesis is a global financial markets software company that helps financial institutions with “buy-to-build” application development in weeks.
The company says, “With composable and customisable components, financial markets organisations can accelerate innovation today while scaling for tomorrow. Whether it’s extending the capabilities of legacy applications or building brand new apps or platforms, Genesis supercharges developers with reusable components, dev tools and a rich, interactive UI.”
The Genesis buy-to-build approach for IT transformation is seeing more client interest in 2022, which is fueling growth. With buy-to-build, organisations quicken the speed of IT transformation since the Genesis platform makes it simpler and faster to develop new applications, as well as improve or replace legacy systems.
Financial services firms use Genesis across the software value chain to automate spreadsheet processes, enhance existing systems, replace legacy technology, and build new, robust first-time applications. This helps them to prioritise digital transformation as they look to stand out from the competition, innovate, lower the cost and complexity of current systems, and react quickly to shifting regulations, says the company.
Genesis has global offices in New York (HQ), Miami, London, São Paulo, and Dublin, Ireland.
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