Join Transform 2021 for the most important themes in enterprise AI & Data. Learn more.
(Reuters) — Alkami Technology is aiming for a valuation of up to $2.08 billion in a U.S. initial public offering (IPO), the banking software provider said in its prospectus on Monday.
The company said it was looking to raise as much as $150 million by selling 6 million shares at a price range of $22 to $25 per share.
Reuters reported on the Plano, Texas-based firm’s IPO plans in February.
Backed by investors including General Atlantic and D1 Capital, Alkami supplies cloud-based platforms that banks and credit unions can use to set up digital offerings for their retail and business customers.
The company’s listing plans come as the COVID-19 pandemic has shown that financial services companies need secure and effective digital platforms. Smaller banks typically do not have the resources to invest in developing such systems internally, and instead turn to third-party providers such as Alkami.
Alkami’s services are used by more than 160 financial institutions, its website showed.
The company earlier said its shares would be listed on the Nasdaq under the symbol “ALKT.”
Goldman Sachs, JP Morgan and Barclays are the lead underwriters for the offering.
VentureBeat
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more
Source: Read Full Article