Japan's SBI Holdings Inc. has announced that it has invested $20 million in Israeli API integration and software management company Openlegacy Technologies Ltd..
The Israeli company develops software that allows smooth, ultra-fast API integration of the core banking systems. Founded in 2014 by CEO Romi Stein and CTO Roi Mor, Open Legacy has 85 employees, 35 of them in its Tel Aviv and Petah Tikva offices. The company, which raised $30 million in November, has raised $60.5 million to date including the latest investment.
OpenLegacy’s platform has been adopted by Fortune 500 companies, such as Citi, Liberty Mutual, FIS, and BNP ParibasCardif.
SBI Holdings says it will recommend using the company’s API platform, which facilitates the digital transformation of regional banks and thereby the revitalization of regional banks. After years of actively investing in venture companies in fintech and other growth fields, such as the IT, mobile and bio-life science sectors, the SBI Group says it is now equipped with a wealth of experience from investing in those companies and supporting their development.
OpenLegacy is a portfolio company of RDC, a joint venture between Elron and Rafael. Among its other investors are Silverhorn Investment Advisors, CommerzVentures, the venture capital unit of Commerzbank, C. Entrepreneurs, a VC created by BNP Paribas Cardif with Cathay Innovation, Leumi Partners, O.G. Tech Ventures, and Prytek-GFS Group.
Published by Globes, Israel business news - en.globes.co.il - on February 2, 2020
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