As IPO season continues, another venture-backed tech company is moving closer toward going public. This week nCino, Inc. filed an updated S-1 filing, providing an initial price range for its equity of $22 to $24 per share.
Indeed, nCino, Inc., a fintech startup that provides operating software to banks, intends to sell 7.625 million shares in its debut, worth $167.75 million to $183 million at those prices. Including shares offered to its underwriters, its haul grows to between $192.9 million and $210.5 million. Discounting the extra shares, nCino, Inc. is worth between $1.96 billion to $2.14 billion at its current price range.
The startup’s software is what nCino, Inc. calls a “bank operating system,” providing banking software to help financial entities with lending, customer resource management, account opening and more. It’s a rich space for innovation, given the banking industry’s complexity and wealth. Smaller startups are also working along related lines.
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Fintech startup nCino targets ~$2B valuation in impending IPO
As IPO season continues, another venture-backed tech company is moving closer toward going public. This week nCino filed an updated S-1 filing, providing an initial price range for its equity of $22 to $24 per share. Indeed, nCino, a fintech startup that provides operating software to banks, intend...
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