Low-code application development platform Genesis Global has received a $20m investment from Bank of America, BNY Mellon and Citi.
These strategic investments come months after it closed a $200m Series C funding round earlier in the year.
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.
Last year, Genesis tripled its revenue and the size of its team.
BNY Mellon CIO, head of investment management, wealth management and pershing technology Avi Shua said, “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 a toolset to make robust and flexible platforms that can scale. We couldn’t be more excited for this opportunity to work alongside Genesis in expanding the development of low code technology.”
The company’s $200m in February was backed by Tiger Global Management, Accel, GV, Illuminate Financial, Insight Partners, Salesforce Ventures and Tribeca Early Stage Partners.
Earlier in the year, Bank of America revealed it will convert all of its credit and debit cards to 80% recycled plastic from 2023 onwards.
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