RIYADH: US InvestCloud is in the early stages of considering an initial public offering next year, amid strong investor demand for asset management software providers, Bloomberg reported.
The California-based fintech could command a valuation of between $8 billion to $10 billion in an IPO, based on multiples of similar companies such as Clearwater Analytics Holdings and NCino.
InvestCloud is expected to post more than $400 million in revenue in 2022.
No decisions have yet been made and InvestCloud may choose to remain private, according to Bloomberg.
InvestCloud’s IPO deliberations follow successful market debuts by Clearwater Analytics and wealth management software provider, Enfusion.











