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2 London fintech firms raise combined $60M

U.K. fintech companies Onfido Ltd. and OpenGamma Ltd. raised a total of $60 million from various investors and venture firms through separate funding rounds.

Onfido raised $50 million in a series C funding round led by SBI Investment Co. Ltd. and the investment arm of salesforce.com, Salesforce Ventures. Also participating in the round were the venture capital arm of Microsoft, M12, specialist fintech investor Fin Venture Capital and other new and previous investors.

Onfido co-founder and CEO Husayn Kassai said the company will use the funding proceeds to continue product and technology development, as well as scale its sales and marketing. The company, which is also planning to consolidate its core market in the U.S. and speed up expansion in Europe and South East Asia, noted that it will add Frank van Veenendaal, former vice chairman of Salesforce, to its board of directors to assist in scaling revenues from its biometric technology.

Separately, OpenGamma completed a $10 million fundraising round led by venture firm Dawn Capital LLP and participated by existing investors, Accel, CME Ventures LLC and former SunGard Capital Corp. CEO Cristóbal Conde. The firm said it plans to use the funding to expand its teams in London, New York and Singapore and to launch new products in the collateral and treasury space.