Alkami valued at more than $3 bln

Opinions

Ella Jones, Deputy Editor In Chief

Date: 23.04.2021

Shares of Alkami Technology Inc surged 38% in their U.S. stock market debut, 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.

Alkami served 9.7 million users in 2020, up more than 34% from a year earlier, according to a recent regulatory filing. The company's banking software platform is delivered to its customers using Amazon Web Services (AWS) cloud technology.

by Ella Jones | Linkedin

#News #IPO #ICO #Alkami #Wcryptn.com

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