genesis 45m series million in a Series B round of funding to change how low-code is used in businesses.
The genesis 45m series is the first and only low-code software platform that was designed from the ground up specifically for the financial markets.
This funding will be put toward expanding the company’s sales, marketing, and engineering departments; going global; and further developing the low-code/no-code tooling and functionality of the platform.
London—Monday, March 15th, 2021 genesis 45m series
genesis 45m series is the only software company that provides a native low-code application platform (LCAP) for financial markets. The company made the announcement today that it has raised $45 million in a Series B round of funding, which was led by Accel.
GV, Salesforce Ventures, and existing investors such as Citi, Illuminate Financial, and Tribeca Early Stage Partners also participated in the round.
In today’s market, financial institutions are under increasing pressure from competitors to develop new value-added services and automate highly regulated workflows on legacy systems while causing as little interruption as possible to essential business operations.
Genesis 45m series
This has only been made more difficult by the present epidemic as financial institutions respond to the reality of remote work. For all but the largest internal IT teams, demand typically far outstrips their capacity to provide it. Because of this, many financial companies risk falling behind their competitors and losing market share.
Genesis enables businesses to construct new software more than five times faster than they could have done so if they had begun from scratch, with fewer lines of code and at a lower cost. Real-time reporting and low-latency are just two examples of the kinds of regulatory and competitive criteria that may be satisfied by its robust, secure, and scalable platform.
The Genesis platform gives its clients the ability to concurrently construct new applications while simultaneously upgrading or isolating the functionality of existing legacy systems. This is made possible by offering a purpose-built framework that is both modular and versatile. They are free to abandon the antiquated framework of “build versus purchase” in favour of the more modern framework of “build and buy.”
Although Gartner projects that by the year 2024, low-code application development will be responsible for more than 65% of application development activity.
Before Genesis there had been no other LCAP that had been created expressly for the intricacies of the financial markets. Because of its ability to address complex use cases that go beyond traditional BPM and RPA, such as the direct automation of client servicing portals, real-time risk management, and high-frequency trading, it has quickly attracted an impressive list of customers from all over the world.
Some of these customers include B3, Citi, ING, London Clearing House, and XP Investments. Genesis has a solid basis for development into other regulated industries and major organizations because of its roots in the financial markets.
genesis 45m series was founded by Stephen Murphy and James Harrison, both of whom have substantial expertise working in technology and systems for top-tier financial organizations. The Genesis team has offices in the United Kingdom (UK), the United States (US), and Brazil.
The money will be used to grow the company’s sales, marketing, and engineering teams, enter new foreign markets, especially in the Asia-Pacific region, and improve the Genesis platform’s low-code and no-code features and capabilities.
“Over the past several years, we’ve witnessed the low-code revolution sweep many industries,” said Stephen Murphy, CEO and co-founder of Genesis. “However, in financial markets, legacy suppliers and generalist low-code providers still dominate.” At a time when they have never had a greater need for it, many businesses are failing to take advantage of the benefits of low-code development, which include agility, value, and flexibility. We were aware that the process of developing software for financial markets and businesses in general must be capable of being improved.
Our low-code application platform is a game-changer since it democratizes product creation and assists businesses in delivering digital innovation more quickly while requiring less code. We are thrilled to have Accel on board since they have a proven track record of assisting firms who are leaders in their respective categories in low-code and enterprise automation.
“Low-code provides business users the liberty to make their own technology usage and purchase decisions while also enabling them to actually construct their own apps without having to rely on IT,” said Andrei Brasoveanu, Partner at Accel, who joins Genesis’ board.
Steve and the Genesis team are challenging a significant market filled with legacy vendors while simultaneously delivering on the promise of low-code by bringing one of the most revolutionary innovations in software development to the field of financial services.
They are also successful in this endeavor. The self-assurance they’ve acquired as a result of working with such huge organizations is evidence that there is a genuine and pressing demand for a low-code solution that is purpose-built specifically for the financial markets. We’re excited to work with Genesis and help them get this to customers all over the world.
The genesis 45m series is the very first and currently the only low-code application platform designed specifically for the financial markets. With Genesis, businesses are able to build software significantly faster than if they had started from scratch, with less code and at a lower cost, while simultaneously catering to a range of simple and complex financial use cases.
This is made possible by Genesis’s ability to support a wide variety of use cases. Trusted by Citi, B3, ING, and London Clearing House, Genesis is a durable, secure, and scalable modular platform. Which satisfies regulatory and competitive needs such as low-latency, making it appropriate for regulated sectors and major companies.
Breaking away from the previous paradigm of ‘create or buy’, Genesis allows organizations to construct new applications while upgrading or isolating functionality of existing legacy systems. Genesis has a headquarters in London and also maintains offices in New York and Sao Paulo. To find out more, visit https://genesis.global/or follow Genesis FinTech on Twitter at https://twitter.com/GenesisFinTech.
Accel is a worldwide venture capital firm that serves as the first partner to extraordinary teams all over the world. From the company’s birth through all phases of the growth of private businesses.
Companies such as
- Crowd Strike
- Fresh works
Are just some of the businesses that the firm has backed over the past 35. We assist visionary business owners in building legendary enterprises all around the world. Please visit www.accel.com or www.twitter.com/accel for further information.
About Salesforce Ventures:
In this day and age, Salesforce is the industry standard when it comes to customer relationship management (CRM). Which helps businesses connect more closely with their clients. The worldwide investment arm of Salesforce, known as Salesforce Ventures. Is responsible for making investments in the next generation of business technology.
In order to enhance the capabilities of the Salesforce Platform. Customers will benefit from the technology that is being developed by Salesforce Ventures. Which is creating the greatest ecosystem of corporate cloud startups in the world. Portfolio firms are eligible for financing, strategic advice, and operational assistance.
They are also given the opportunity to simply join Pledge 1% and incorporate charitable giving into their business models. Since 2009, Salesforce Ventures has made investments in more than 400 businesses across 22 countries. Some of which include DocuSign, GoCardless, Guild Education, nCino, Snowflake, Twilio, and Zoom. Other investments include Zoom and others. Visit www.salesforce.com/ventures if you need any further clarification on this matter.