Permira To Buy Majority Of Biocatch At $1.3bn

BioCatch, a top player in digital fraud detection and financial crime prevention using behavioral biometric intelligence, has announced that Permira Growth Opportunities II, a fund managed by global private equity firm Permira, will acquire a majority stake in the company. Existing shareholders Sapphire Ventures and Macquarie Capital will also increase their investments. This move is expected to boost global expansion, enhance product development, and support overall growth.

In the deal, the Fund will acquire a majority share in BioCatch, purchasing shares mainly from Bain Capital Tech Opportunities and Maverick Ventures. This secondary transaction values the company at a total enterprise valuation of $1.3bn.

Founded in 2011, BioCatch aims to combat fraud and ensure user safety in online transactions without disrupting the user experience. The company is a leader in behavioral biometric intelligence and advanced fraud detection, using patented AI, data science, and machine learning to analyze user intent accurately. In 2023, BioCatch expanded its mission to include proactive measures against financial crime with the introduction of 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