Ohpen, a banking tech firm in the Netherlands that was the world’s first cloud native core banking provider, has announced that its first and long time investor, the investment management firm Amerborgh, has sold part of its shareholding to NPM Capital, which now has a 35% stake.

“We have had Ohpen in sight as one of the most promising technology companies that we have seen in the past few years,” said Rutger Ruigrok, managing director at NPM Capital. “We are impressed with their achievements over the past 10 years: a cloud native core banking engine, an impressive customer base and a wonderful foundation for further growth. The technology sector is an increasingly important focus point in our investment portfolio,” he added.

“Having the new shareholder on board means a broadening of our options to finance future growth, although Ohpen can still advance with the growth capital that we raised early 2018, says Matthijs Aler, CEO of Ohpen. “With Amerborgh and now also with NPM, we have a well-balanced long-term shareholder structure that enables Ohpen to realize all of its future growth ambitions. I am really looking forward to working with the NPM team.”

Ohpen was the first SaaS core banking engine in the world that runs entirely in the cloud, predominantly on AWS.. Ohpen liberates its customers from their legacy systems, making them more flexible, safe, scalable and compliant.

Last year Ohpen moved more than 400.000 savings and investment accounts from Aegon to its core banking engine. Ohpen also signed up LeasePlan Bank which will use its cloud-based engine to replace several on-premises applications, reducing complexity and increasing LeasePlan Bank’s technological and functional capabilities to better support its retail banking customers.

““In Ohpen we have found a partner that allows us to further increase our efficiency and enhance our capabilities to keep track of market developments and changing customer demand,” said Danny te Brinke, director LeasePlan Bank & Strategic Finance. “This will help us deliver on our commitment to bring user-friendly, clear and competitive savings products to our customers.”