Allianz X leads funding round of London-based fintech OpenGamma

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Allianz X has led a funding round of London-based B2B fintech OpenGamma with a total investment of USD 21 million. In addition to the digital investments unit of Allianz, all existing investors participated in the funding round.

OpenGamma helps asset managers and other professional financial market participants to increase the capital efficiency of their portfolios, particularly when it comes to posting collateral in derivative transactions. With its proprietary software offering, OpenGamma is the leader in the margin analytics space.

Thanks to close cooperation with numerous renowned market participants, including PIMCO, a subsidiary of Allianz and one of the world’s premier fixed income investment managers, OpenGamma has developed unique coverage for a large inventory of derivatives products and continues to refine them together with its customers. The use of OpenGamma's technology provides clients with significant capital savings, thus improving performance and generating additional alpha.

From the proceeds of the latest funding round, OpenGamma will continue to expand its offering, including the launch of automated workflow solutions for the treasury management of asset managers and other financial participants. As regulation forces firms to review their cash and collateral processes, OpenGamma can significantly increase value for its current and future clients by optimizing existing operational processes.

“OpenGamma’s solutions are a small revolution for many investors and asset managers,” said Kevin Harder, Manager at Allianz X. “Thanks to OpenGamma, collateral management is no longer a back-office issue but instead becomes an active performance driver. This makes partnering with OpenGamma an exciting opportunity for a wide range of clients from the financial industry.”

“Inefficiencies in legacy processes are quietly increasing the cost of doing business for all asset managers, at a time when every dollar counts.” said Peter Rippon, CEO of OpenGamma. “We are delighted to be partnering with Allianz X and PIMCO to introduce a new standard for cash and collateral management that helps all asset managers unlock returns from their assets.”

In addition to its longstanding client PIMCO, several dozen leading names from all sectors of the financial industry are already using OpenGamma's solutions. Software-as-a-Service (SaaS) contracts with many of these clients form a significant part of the business and mean stable, recurring revenues for the company.


OpenGamma
is a derivatives analytics firm trusted by the largest and most sophisticated global banks and fund managers who depend on their pre and post trade margin analytics to drive trading and treasury costs down. OpenGamma’s quantitative depth and extensive asset class coverage enables users to dynamically manage their funding, liquidity, and optimisation requirements across bilateral, SIMM, and cleared derivatives portfolios. They are backed by leading investors including Accel, Allianz X, CME Ventures, Cristóbal Conde, Dawn Capital, and FirstMark Capital.
Allianz X invests in digital frontrunners in ecosystems relevant to insurance and asset management. It has a portfolio of over 25 companies and AuM of more than 1.5 billion euros. Allianz X has counted 12 unicorns among its portfolio so far. The heart and brains behind it all are a talented team of around 40 people. As one of the pillars of the Allianz Group’s digital transformation strategy, Allianz X provides an interface between Allianz Operating Entities and the broader digital ecosystem, enabling collaborative partnerships in insurtech, fintech, and beyond. As an investor, Allianz X supports mature digital growth companies to take the next bold leap and realize their full potential. Keep up with the latest at Allianz X on Medium, LinkedIn, and X (formerly Twitter)
The Allianz Group is one of the world's leading insurers and asset managers with more than 122 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group***.
* Including non-consolidated entities with Allianz customers.
** As of September 30, 2023.
*** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.

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Gregor Wills
Allianz X
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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