Under the terms of the agreement, Permira Growth Opportunities II fund will mainly purchase shares from Maverick Ventures and Bain Capital Tech Opportunities. Additionally, current investors Macquarie Capital and Sapphire Ventures will boost their stakes in BioCatch.

In 2011, at the beginning of the transition from branch to online banking, BioCatch was established. Currently, the company serves over 190 financial institutions worldwide, including more than 30 of the top 100 banks in the world.

The company has raised more than $200 million in capital, with FS heavyweights like Barclays, Citi, HSBC, National Australia Bank, and American Express among its prior investors.

Early in 2023, Permira concluded its first minority investment in the business; same year, BioCatch achieved Ebitda profitability and concluded 49% ARR growth.

"We are thrilled to welcome Permira as majority shareholders after forging a strong partnership with them over the last year," says Gadi Mazor, CEO of BioCatch.

"Since their first investment, the firm's tremendous competence in technology and cybersecurity, along with their size, extensive worldwide network, and our close collaboration, have been extremely beneficial. We can't wait to work together to further BioCatch."