OpenLegacy pulls in $30m in round led by Silverhorn

Digital software designer OpenLegacy has pulled in $30m for its latest round of funding.

The capital was led by Hong Kong investor Silverhorn Investment Advisors.

Other contributions to the round came from CommerzVentures, C. Entrepreneurs, Leumi Partners, O.G. Tech Ventures, Prytek-GFS Group, and RDC.

Virginia-based OpenLegacy aims to help enterprises improve digital efforts through automating and standardising the creation of digital services. The company’s microservice-based APIs are used by the financial services, insurance and government sectors.

Financial services have leveraged OpenLegacy to mobilise their systems, connect with FinTech and blockchain platforms, improve customer experiences, and accelerate the creation of digital services.

OpenLegacy has been used by insurance firms to automatically create APIs to be deployed, address InsurTech opportunities, and improve the employee productivity and customer engagement.

Following this burst of funding, the company will look to bolster its position in the market and helping the digitalisation of the market.

Cathay Innovation partner Jacky Abitbol said, “As partners with BNP Paribas Cardif, a recognized global specialist in personal insurance, we are aware of the issues facing the insurance industry and the fact that you can’t solve today’s problems with yesterday’s middleware solutions.

“OpenLegacy’s unique and innovative solution has the potential to become the new standard of the industry thanks to the prestigious syndicate gathered for this new round. We are looking forward to help OpenLegacy’s team in its upcoming cross-border developments.”

Earlier in the year, Silverhorn took part in the $26m Series A funding round of SME lending solution First Circle.

Copyright © 2018 FinTech Global

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