Recently, the first and long-time investor Amerborgh sold a part of its stake in Ohpen to NPM Capital to finance ongoing and future projects. With this move, the Dutch private equity firm NPM Capital has acquired a 35% stake in fintech startup Ohpen for an undisclosed amount.
For the uninitiated, Ohpen is a wildly successful Dutch fintech company led by Chris Zadeh and it also is known as the ‘new Adyen’ in the startup eco-system in Amsterdam.
Basically, Ohpen is a SaaS, cloud-native core banking platform that administers retail investment and savings accounts for medium-sized Dutch banks and other financial institutions. Reportedly, the company also wants to start offering its services to large banks and take the step to the pension market.
Rutger Ruigrok, NPM Capital managing director:
Already, we have had Ohpen insight as one of the most promising technology companies that we have seen in the past few years,” he adds. “We are impressed with their achievements over the past ten years: a cloud-native core banking engine, an impressive customer base and a wonderful foundation for further growth. We are very enthusiastic about now being part of their future.
Let’s take a detailed look at what all Ohpen has achieved so far since it began its operations in 2009.
First SaaS core banking engine with cloud!
Ohpen is the first SaaS core banking engine in the world that runs entirely in the cloud. Ohpen liberates its customers from their legacy systems, making them more flexible, safe, scalable and compliant. Available as SaaS or BPO, Ohpen is continuously compliant.
€40 million in funding!
Founded by Bas Wouwenaar, Chris Zadeh, Erik Drijkoningen, and Ilco van Bolhuis Ohpen has raised a total of €40 million in funding so far. Their last funding was a series C in Feb, 2018 and the total amount was around €25 million, which is one of the biggest investment in 2018.
Appointed Matthijs Aler as CEO earlier this year!
After ten years at the head of core banking provider, Ohpen founder, Chris Zadeh transferred the CEOship to Matthijs Aler from January 1, 2019. In fact, Aler has extensive experience in online banking, including at BinckBank as Managing Director Netherlands and as CEO France where he was ultimately responsible for setting up the French branch.
Prior to joining Ohpen, he held several positions at BinckBank including Managing Director of The Netherlands and CEO France where he was responsible for setting up the French branch. While Zadeh now continues as Chairman of the Board, focusing on the overall strategy, customers and future technology use.
Employs over 120 people
Founded by a team of experienced bankers and software developers, the Ohpen platform administers savings and investment account for clients such as Aegon, Nationale-Nederlanden, Volksbank and other banks, investment institutions and insurers. The company employs over 120 people in the Netherlands and Spain.
Launched Ohpen API Portal (OAP)!
Last year, the Amsterdam-based banking software vendor unveiled its Ohpen API Portal (OAP) in beta mode in an attempt to bring something new and lively to the fintech space.
According to Ohpen, OAP allows banks, insurance companies, and asset managers to assemble the products and services they would like to use, generate code and apply it in their online or mobile banking sites. This reduces time to market of API integration by up to 40% for new features and functionalities – or for even launching a whole new bank.
Michel Vrolijk, managing director at Amerborgh Netherlands:
Our expectations at the time have always been exceeded. We hope to be a partner of Ohpen’s incredible adventure for a long time to come.
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