Private equity-backed funds purchase 1.2 million Alkami shares in a private placement, signaling confidence in the fintech firm.
General Atlantic-affiliated funds bought $34.6 million of Alkami Technology Inc. stock in a private placement. The transaction involved 1.2 million shares at $28.83 each, reflecting a strategic investment in the digital banking solutions provider.
Alkami’s stock has faced volatility this year, trading below its 2023 peak but above early-2024 lows. The company reported $82.3 million in revenue for Q1 2024, a 22% year-over-year increase, amid growing demand for cloud-based banking platforms.
No immediate market reaction was disclosed following the announcement.