Permira To Buy Majority Of Biocatch At $1.3bn

By Author: Ben Gross
Total Articles: 444
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BioCatch, the global frontrunner in detecting digital fraud and preventing financial crime through behavioral biometric intelligence, has made an exciting announcement today. Permira Growth Opportunities II, a fund advised by the esteemed global private equity firm Permira, will be acquiring a majority position in the company. This investment will not only be supported by existing shareholders Sapphire Ventures and Macquarie Capital, but it will also fuel BioCatch's global expansion, drive innovation in their product roadmap, and contribute to their overall growth.

According to the agreement, the Fund will acquire a majority stake in BioCatch by purchasing shares primarily from Bain Capital Tech Opportunities and Maverick Ventures. This secondary transaction values the company at an impressive total enterprise valuation of $1.3 billion.

Founded in 2011, BioCatch emerged during a time when consumers were transitioning from traditional banking to online platforms. Their mission was clear from the start: combat fraud and ensure user safety in online transactions without compromising the user experience. Today, they ...
... stand as leaders in behavioral biometric intelligence and advanced fraud detection. By utilizing patented artificial intelligence, data science, and machine learning technology, BioCatch analyzes a user's cognitive intent to provide highly accurate insights into the legitimacy of their identity, motivations, and behavior. In 2023, the company expanded its mission to include a proactive approach to fighting financial crime with the introduction of predictive, behavior-based mule account detection.

More Information : https://www.techdogs.com/tech-news/pr-newswire/permira-to-acquire-majority-position-in-biocatch-at-13bn-valuation