Genesis, which builds applications for financial markets organisations, has raised $200m in funding.
The round was led by Tiger Global Management, with commitments also coming from Accel, GV, Illuminate Financial, Insight Partners, Salesforce Ventures and Tribeca Early Stage Partners.
With the funds, the FinTech company plans to expand its developer community and its “buy-to-build” model. It claims this model increases the operational efficiency and helps global IT teams streamline and accelerate the development of software applications, systems integrations and customisation of third-party technology solutions.
Capital will also be used to onboard thousands of new developers and support them in their buy-to-build journey.
Genesis integrates with a firm’s technology ecosystem, removing the need to invest resources into new systems. Its buy-to-build approach empowers a company to easily deploy applications.
Insight managing director Jonathan Rosenbaum said, “Large financial institutions are struggling to scale their internal IT teams while shifting to modern software-based processes Partners.
“Recognising the extent of this problem, Genesis built a cutting-edge, low-code/no-code platform for financial institutions which is fundamentally changing the way they develop new applications. We at Insight are confident in the company’s ability to make a tremendous impact for its customers, and we are very excited to partner with the entire Genesis team as they continue down the path of exponential growth.”
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