Genesis Raises $200 Million in Funding Round Led by Tiger Global

Genesis, the London-based supplier of a low code platform for capital markets development, has raised $200 million in a Series C funding round led by Tiger Global Management.

Accel, GV (formerly Google Ventures), Illuminate Financial, Insight Partners, Salesforce Ventures and Tribeca Early Stage Partners joined the round for Genesis, which counts Citi and ING among its clients.

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In the last year, Genesis has seen the size of its business and overall headcount triple, signing up a slew of clients for its platform, which enables the rapid creation of new software without having to write substantial lines of code.

Specifically, the company claims an accelerated interest from clients in adopting the buy-to-build model: building their own offerings in-house using Genesis technology.

Genesis tech is also at the centre of project Octopus, a new trading consortium led by Citi and Bank of America building an independent data and execution platform for fixed income markets.

The new funding will be used to expand the Genesis platform, developer community, and the company's buy-to-build model.

Genesis CEO Stephen Murphy said: "We have worked hard to become central to IT delivery across financial markets, and we are increasing our focus on and commitment to our growing developer community.

"In the coming months, and with this new funding, we expect to onboard thousands of new developers and support them in their buy-to-build journey while continuing to expand our global network of institutional partners."

Source: Finextra