Ohpen, the preferred cloud-based banking platform of leading financial providers, announced today that it has raised €30 million in growth capital from Deutsche Bank in the Netherlands. Funds will be directed towards continued expansion efforts into markets such as the UK and deepening Ohpen’s market-leading functionality.

The funding enables Ohpen to pursue its strategic vision, and position as an ambitious player in the financial infrastructure space.  “With the global spending market for bank IT estimated at $300 billion, there is a clear drive by existing financial providers to modernize their IT systems and meet the demands of their customers, shareholders and supervisory authorities” said Ohpen’s CFO Douwe Bijl. “This funding supports our ongoing internationalization, enables us to speed up our innovation roadmap and take on a bigger share of this market”.

Deutsche Bank funding was made possible because of Ohpen’s growing client base, strong business model, and its market positioning around growth in the digitalisation of financial services.

Clients and prospects of Ohpen benefit from a unique proposition. Built on Amazon Web Services, the platform powers the administration of savings, investment, pension, mortgage and loan products for financial services providers from the cloud. It also automates all core processes which eliminates operational burdens and errors. Customers are rewarded with 100% friction-free (and instant) banking experiences while providers claw back time, costs and resources that can be reallocated to “doing business”.

This step further solidifies Ohpen’s journey to becoming a world leader and compliments recent moves including the acquisition of lending technology leader Davinci, the appointment of supervisory board members Leni Boeren (KLM- Air France supervisory board member) and recent hire of banking veteran Jerry Mulle as Ohpen UK Managing Director.

About Ohpen:

Ohpen is the preferred digital banking platform of leading banks and financial services providers. Providing a modern SaaS banking engine that runs entirely in the cloud, Ohpen enables clients to modernize their banking IT systems with reliable, adaptable, and fully compliant technology. With offices across the UK and Benelux regions, Ohpen powers savings, investment, mortgage, loan and pension products for clients including Aegon, Knab, Robeco, Nationale-Nederlanden, BCM Global, CMIS, Volksbank and LeasePlan Bank. The funding as described in this update underlines Ohpen commitment to helping clients build better banking experiences and overcome the burden of legacy IT.  For more information, visit Ohpen.com