Genesis Global, the provider of a low-code app development platform for financial services, has raised $20 million in new funding.
The “strategic support” from potential customers Bank of America, BNY Mellon and Citi “demonstrates their confidence in low-code as an accelerator for the next wave of IT innovation”.
Stephen Murphy, chief executive officer of Genesis, which tripled its revenue and the size of its team last year, added: “We are excited to be working with these partners on multiple innovative projects.”
The new funding follows the fintech’s $200 millions series C round in February. Citi first invested in Genesis, a US fintech with offices in Miami, New York and Charlotte, as well as London, Leeds, São Paulo and Dublin, in late 2020.
Commenting on the Genesis platform, Nikhil Joshi, North America head of markets technology at Citi, said: “The platform eliminates repetitive, non-differentiating work core to many financial industry applications, freeing developers to focus on innovative work and making technology departments more productive and more strategic.”