PE firm Permira is acquiring a majority stake in BioCatch in a deal that values the Israeli behavioral biometrics company at $1.3 billion.
The deal will see the Permira Growth Opportunities II fund purchase shares primarily from Bain Capital Tech Opportunities and Maverick Ventures. Existing shareholders Sapphire Ventures and Macquarie Capital will also increase their investments in BioCatch.
BioCatch was founded in 2011, at the beginning of the transition from branch to online banking. The company now counts more than 190 financial institutions worldwide as customers, including over 30 of the 100 largest banks in the world.
The company has raised over $200 million in funding. Previous investors include FS giants such as Barclays, Citi, HSBC, National Australia Bank and American Express.
Permira completed an initial minority investment in the company in early 2023, a year that BioCatch ultimately completed with 49% ARR growth and Ebitda profitability.
Gadi Mazor, CEO of BioCatch, said: “Having built a strong partnership with Permira over the last year, we are pleased to welcome them as majority shareholders.”
“The company’s impressive technology and cybersecurity experience, coupled with its size, global network and our close working relationship, has been invaluable since its initial investment. We are excited to take BioCatch to the next level together.”
Deutsche Bank is to close a “mid-double-digit number” of branches and at the same time…
Consumer expectations are rapidly changing the way banks operate. What challenges do banks face…
Voice cloning, in which fraudsters use AI technology to imitate the voice of a friend…
Banks in Singapore will gradually implement Singpass Face Verification (SFV) over the next three months…
Indian digital lending app mPokket will hire 5,000 new employees in the coming year, more…
Following the collapse of fintech company Synapse, a US regulator has unveiled plans to tighten…
This website uses cookies.