News and resources on cloud strategy, selection, build, migration and operation for banks and fintechs.
Alkami preps $2 billion-plus IPO

Alkami preps $2 billion-plus IPO

Cloud-based digital banking technology vendor Alkami has launched a preliminary prospectus for a proposed public offering of shares on the Nasdaq Global select Market that would value the company at somewhere above $2 billion.

Goldman Sachs, JPMorgan and Barclays are doing the grunt work for the IPO, which will comprise an initial offering of six million shares of Alkami common stock at a price of between $22 and $25 per share. The underwriters will also have a 30-day option to purchase up to 900,000 additional shares at the IPO debut price.

Texas-based Alkami clams over 160 bank and credit union clients, serving nearly 10 million customers, for its digital platform.

Last September it raised $140 million in a funding round led by D1 Capital Partners and joined by Fidelity Management & Research, Franklin Templeton, and Stockbridge Investors.

In its SEC filing, firms reports recurring annual revenue of $128 million at the end of last year and a subscription revenue mix of 94%.

Comments: (0)


Related News