Permira finalizes $1.3B majority stake acquisition of BioCatch

Permira Growth Opportunities has completed the acquisition of a majority position in behavioral biometrics and fraud prevention business BioCatch, four months after the deal was announced. The move is expected to support BioCatch’s global expansion and product development.

After surpassing $100 million in annual recurring revenue (ARR) and reaching profitability in 2023, BioCatch continued its growth into 2024, reporting a 43 percent year-over-year ARR increase in the first half of the year. The company’s new tools in scam prevention and mule detection also saw a rise, with revenue tripling over the past year.

Valued at $1.3 billion, as part of the acquisition, several executives from Permira will join BioCatch’s board of directors, including Stefan Dziarski, Dominik Pozny, and Ran Maidan, who will serve as the board’s chairman.

Speaking about the deal, Gadi Mazor, CEO of BioCatch, says: “We are excited to deepen our partnership with Permira and welcome Stefan, Dominik, and Ran to our Board of Directors.

“Permira’s global reach and scale, along with their deep expertise in technology and cybersecurity, will be instrumental as we continue strengthening our market leadership position and elevating BioCatch to new heights.”

BioCatch utilizes behavioral biometric intelligence, employing machine learning to detect fraud and money laundering. The company’s technology analyzes the digital behavior of hundreds of millions of retail banking customers to identify potential criminal activities.

“We’re thrilled to complete our majority investment in BioCatch and are excited to continue the successful partnership with Gadi and the BioCatch team as we work together to drive further growth and expansion in the coming years,” says Stefan Dziarski, Partner and Co-Head of Permira Growth Opportunities.

“Having followed BioCatch for many years and having become a shareholder in early 2023, we remain very confident in the company’s growth potential, technological leadership and management team.”

Article Topics

behavioral biometrics  |  BioCatch  |  biometrics  |  Permira Growth Opportunities