Allianz backs OpenGamma

Allianz X has led a funding round of London-based B2B FinTech OpenGamma with a total of $21m.

OpenGamma said through its proprietary software offering, it helps asset managers and other professional financial market participants to increase the capital efficiency of their portfolios, particularly when it comes to posting collateral in derivative transactions.

The use of OpenGamma’s technology provides clients with significant capital savings, the company added.

Following this latest funding round, OpenGamma said it will continue to expand its offering, including the launch of automated workflow solutions for the treasury management of asset managers and other financial participants.

Kevin Harder, manager at Allianz X, said, “OpenGamma’s solutions are a small revolution for many investors and asset managers… Thanks to OpenGamma, collateral management is no longer a back-office issue but instead becomes an active performance driver. This makes partnering with OpenGamma an exciting opportunity for a wide range of clients from the financial industry.”

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