Genesis rakes in $45m for its Series B

Genesis, a low-code application platform for financial markets, has scored $45m in its Series B.

Accel served as the lead investor, with commitments also coming from GV and Salesforce Ventures. Previous Genesis backers Citi, Illuminate Financial and Tribeca Early Stage Partners also contributed to the round.

With the equity, the company is looking to expand its sales, marketing and engineering teams, and expand into international marketing, including Asia-Pacific. Capital will also be used to build out its low-code tooling and functionality.

The company claims it helps firms build new software five-times faster than starting from scratch. Its purpose-built framework enables companies to build new applications as well as improving and isolating existing legacy systems.

Its use cases include automated quoting, risk management, trade allocation management, real-time portfolio management, credit insurance workflow support and more.

Genesis CEO and co-founder Stephen Murphy said, “Over the past few years, we’ve seen the low-code revolution sweep multiple industries but in financial markets, legacy vendors and generalist low-code providers still dominate.

“Many firms are missing out on the benefits of low-code programming – agility, value and flexibility – at a time in which they’ve never needed it more. We knew there had to be a better way to build software in financial markets and enterprises more broadly.

“Our low-code application platform is a game changer, democratising product design and helping firms deliver digital innovation quicker and with less code.”

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