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 like Alkami.
Alkami’s website shows its services are used by more than 160 financial institutions. 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
VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- 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
