Fintech startup nCino targets ~$2B valuation in impending IPO

#fintech #ipo #startup

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.

Read on

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...

Fintech Startup IPOs: Insurtech startup Lemonade sees shares jump 139% on IPO

#ipo #startups #insurtech #fintech #valuation #capital #startupfunding #ai #artificialintelligence #bots

Lemonade (LMND) raised $319m (€283m) with an initial public offering (IPO), signalling high investor demand at a time when markets have been shaken. The New York-based insurtech company sold 11 million shares at $29 on 2 July.

The start-up’s debut was the strongest by a US company in 2020 so far, MarketWatch reported. Shares skyrocketed during the day and finished up 139% at $69.41.

Insurtech IPOs have been garnering a lot of attention in recent years, especially from their more traditional peers.

Venture-backed insurtech startups are beginning to disrupt the incumbent industry, which has been a laggard in their digital transformation, with currently 12 unicorns existing in the global insurtech space, the report found.

Lemonade said it has digitised the entire insurance process. The start-up claimed that it had set “a new world record” when its AI bot was able to approve a claim for a $980 personal item in three seconds, PitchBook notes.

Read on

Insurtech startup Lemonade sees shares jump 139% on IPO

Lemonade (LMND) raised $319m (€283m) with an initial public offering (IPO), signalling high investor demand at a time when markets have been shaken. The New York-based insurtech company sold 11 million shares at $29 on 2 July. The start-up's debut was the strongest by a US company in 2020 so far, MarketWatch reported.