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Bloomberg: InvestCloud eyes $10 billion float

Bloomberg: InvestCloud eyes $10 billion float

Wealth platform InvestCloud is contemplating an initial public offering that would value the London-based fintech at $10 billion, Bloomberg reports.

The company, which is projected to have more than $400 million in revenue in 2022, is talking to potential advisers about an IPO next year, according to anonymous sources cited by Bloomberg.

In February, InvestCloud completed a recapitalisation that valued the business at $1 billion. As part of the deal, two additional businesses were rolled into InvestCloud, immediately pushing the valuation of the combined business up over $2 billion.

InvestCloud now has over $4 trillion of assets on its platform and revenues over $285 million. Headcount has risen to 900 people, as its sales footprint expands considerably, adding office locations and local expertise in continental European and Asian markets.

The financial and corporate manoeuvring behind the February deal appeared designed to focus InvestCloud for further growth and a potential IPO in the near future. At the time, John Wise, founder of InvestCloud, confirmed his ambition to build a global financial supermarket during an exclusive interview with FinextraTV.

A final decision on pursuing an IPO hasn’t been made and InvestCloud could opt to remain private, Bloomberg reports.

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