May 3, 2024 at 05:24PM
BioCatch, a leader in digital fraud detection and financial crime prevention through behavioral biometric intelligence, is acquired by Permira Growth Opportunities II. The majority stake acquisition aims to accelerate global expansion, advance product roadmap and support continued growth. BioCatch is recognized for its innovative approach and influential customer base in fighting fraud.
Based on the meeting notes, the key takeaways are:
1. Permira Growth Opportunities II, advised by Permira, has agreed to acquire a majority position in BioCatch, a global leader in digital fraud detection and financial crime prevention.
2. Alongside Permira’s investment, existing shareholders Sapphire Ventures and Macquarie Capital will also increase their investments in BioCatch.
3. BioCatch, founded in 2011, leverages behavioral biometric intelligence, AI, data science, and machine learning to combat fraud and financial crime, with a focus on online banking safety and customer trust.
4. The transaction with Permira values BioCatch at a total enterprise valuation of $1.3bn.
5. BioCatch’s customer base includes over 190 global financial institutions, with over 30 of the world’s largest 100 banks using its solutions.
6. Permira’s investment aims to accelerate BioCatch’s global expansion, advance its product roadmap, and strengthen its position in the market, particularly in Continental Europe.
7. The management teams of both BioCatch and Permira expressed excitement about the partnership and the potential for further growth and innovation.
These takeaways provide clear insights into the recent transaction and the future plans of BioCatch and its new majority shareholder, Permira.