Australian investment giant Macquarie acquires $32 million-worth of BioCatch shares



"Israeli unicorn BioCatch recently completed its third secondary deal in less than a year, Calcalist has learned. Australia’s Macquarie Capital of the Macquarie Group, which has around $600 billion in assets under management, invested $32 million in the company's shares, which it purchased from its early investors at a value of slightly more than $1 billion...Founded in 2011 by Avi Turgeman and the late Benny Rosenbaum, BioCatch, currently led by CEO Gadi Mazor, employs 280 people, half of whom are based in Israel. The recent surge in the company's value follows accelerated growth, propelling it to a yearly revenue pace of $100 million, leading to a positive cash flow. This growth is fueled by a 51% revenue increase from its 152 clients, consisting of banks and financial institutions. Notably, 28 of the world's top 100 banks are on BioCatch's client list...Recently, BioCatch expanded its focus on the identification of accounts used for money laundering and terrorist financing, addressing a heightened need since the outbreak of the war with Hamas. The company claims a 98% accuracy rate in distinguishing accounts operated by regular users from those associated with money laundering networks. Even before the first funds enter an account, BioCatch's system reportedly identifies such accounts in 70% of cases."

https://www.calcalistech.com/ctechnews/article/sj4nkk00it


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