Low-code development platform Genesis lands $20m funding from BofA, BNY Mellon and Citi
Genesis Global, a low-code application development platform for financial markets organisations, has secured $20 million in new funding from US banking giants Bank of America, BNY Mellon and Citi.
Genesis lands $20m investment
The fresh capital injection comes just five months after the company secured $200 million in a Series C round led by Tiger Global Management.
The firm says its buy-to-build model enables businesses to accelerate their digital transformation efforts.
Founded in 2015, Genesis’ platform is being utilised by financial services firms to automate spreadsheet processes, enhance existing systems, replace legacy technology and build first-time applications.
Nikhil Joshi, North America head of markets technology at Citi, says the Genesis platform boosts productivity as it “eliminates repetitive, non-differentiating work core to many financial industry applications”.
David Trepanier, head of structured products, global credit and special situations at Bank of America, adds Genesis “accelerates the development process and allows us to more quickly build out and launch new trading protocols and processes”.
Genesis claims to have tripled its revenue and staff headcount in 2021 and its growth is continuing in 2022.
The company has offices in New York (HQ), Miami, São Paulo, London and Dublin.
