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NCino files for IPO

NCino files for IPO

Cloud-based core banking vendor nCino has filed with the US Securities and Exchange Commission for an initial public offering.

The vendor says it plans to list on the Nasdaq Global Select Market and that the number of shares to be offered and the price range have not yet been determined.

Founded in 2012, nCino raised $80 million last October and claims more than 1100 financial institution clients around the world.

However, it has yet to make a profit, recording a $27.5 million net loss for the fiscal year ending in January.

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