Private equity firm increases holdings in digital banking solutions provider amid rising fintech sector interest.
General Atlantic purchased $34.7 million worth of Alkami Technology (ALKT) stock, expanding its position in the cloud-based digital banking platform. The transaction reflects growing investor confidence in fintech solutions as financial institutions accelerate digital transformation efforts.
Alkami, which serves over 200 financial institutions, reported $72.3 million in revenue for Q2 2023, a 28% year-over-year increase. The company’s stock has risen 12% over the past three months, outperforming broader fintech sector averages.
No immediate market reaction was disclosed following the disclosure of the stake acquisition.