By Reuters Staff
2 Min Read
(Reuters) - Shares of Alkami Technology Inc surged 38% in their U.S. stock market debut on Wednesday, giving the U.S. banking software provider a market capitalization of $3.43 billion.
Shares opened at $41.26, well above their initial public offering price (IPO) of $30. The company raised $180 million in the IPO.
Alkami, which has more than 160 financial institutions using its cloud-based digital banking services, sold six million shares in the IPO.
The company, which counts General Atlantic and D1 Capital among its investors, said its platform seeks to help smaller financial firms compete with large, technologically advanced U.S. banks.
Blockchain technology firm ConsenSys said on Tuesday it had raised $65 million from major banks and financial services firms including J.P. Morgan, Mastercard Inc and UBS Group AG to fund its growth and global expansion.
By Reuters Staff
2 Min Read
(Reuters) - Scale AI said on Tuesday it had raised $325 million in fresh funding, doubling its valuation to $7 billion in just over four months, as the artificial intelligence (AI) firm plans to increase hiring and expand its product offerings.
Investment firms Dragoneer, Greenoaks Capital and Tiger Global co-led the Series E funding round, which included new investors Wellington Management and Durable Capital. Existing shareholders Coatue, Index, Founders Fund and YC also took part.
Scale, which counts the U.S. Department of Defense and the U.S. Air Force among its customers, raised $155 million at a $3.5 billion valuation in December.
3 Min Read
STOCKHOLM (Reuters) - Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange, the latest in a line of major European tech unicorns seeking a stock market listing.
The deal could see the company valued at around 9 billion euros ($10.70 billion), based on the middle of a range of analyst views on the company seen by Reuters and confirming a Reuters report here from earlier this year.
That would be around 60 times Trustly’s expected core 2022 earnings, a discount to peer Adyen which trades at 72.5 times but a premium to Nuvei, which trades at 30.5 times.
TRUST TEST. A Swedish fintech startup is the latest to cash in on the digital payments boom. BlackRock-backed Trustly said on Monday it is planning an initial public offering in Sweden which Reuters reported in January could value the company at up to 9 billion euros. Chief.