General Atlantic-backed Riskified valued at $4.3 bln in NYSE debut

Thursday, Jul 29, 2021 0

Riskified Ltd (RSKD.N), an online risk management platform backed by an affiliate of growth equity investor General Atlantic, notched a valuation of $4.3 billion after its shares jumped more than 28% in their stock market debut on Thursday.

Shares opened at $27, compared to Riskified’s initial public offering (IPO) price of $21 per share that helped raise $367.5 million.

The company, founded by Eido Gal and Assaf Feldman in 2013 to solve online payment fraud, sold 17.5 million shares in the IPO, of which existing shareholders offered about 200,000 shares.

Riskified aims to reduce risks related to online fraud for e-commerce businesses and has built a machine learning-based platform that minimizes payment risk.

“We’re opening offices in Australia, Shanghai, London, Mexico and Brazil, so there is much opportunity globally,” Chief Executive Officer Eido Gal told Reuters.

The Tel Aviv, Israel-based company recorded a 30% rise in revenue to $169.7 million for the year ended Dec. 31, 2020, a recent regulatory filing showed. However, it incurred a loss of $11.3 million in the same period.

Goldman Sachs, J.P. Morgan and Credit Suisse were the lead underwriters for the offering.



Learn more about Riskified


Most Read

UK Travel industry is left off the Chancellors Christmas List - We speak to UKInbound

KeeToo - A new app for booking experiences in the UK

The New TravelMole & Partner Zone: All About

Tony Evans of TProfile talks through why his company has such an impressive clientele for tech

Phil Dickinson of Qatar Tourism talks over latest plans for tourism, sport events and MKT campaigns

How wide is the choice of accommodation and activities at the Abama Resort Tenerife?

Minister of Tourism for Barbados, Lisa Cummins, talks through post pandemic planning

Apprentices could be in your company plus a government grant to help - We speak to the Mitre Group

We take a tour of European countries with Tours by Locals

A new luxury resort in Mozambique from the Banyan Tree stable We speak to Eduardo Johnston da Silva

Husain AlHashmi of Visit Abu Dhabi talks to TravelMole at WTM21

Xavier Pascuet of Calvia, Mallorca talks through how they are building back better

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari