Fintech startup nCino has filed an updated S-1 that indicates it will be pricing shares initially in the $22 to $24 range; this would give the company, which bills its SaaS offering as a “bank operating system”, a valuation of approximately $2 billion with cash being raised around $200 million; it is not known what nCino’s last private valuation was but we do know the venture arm of Salesforce and well known VC Insight Partners own significant slices of the company; they are growing fast with revenue up 50% from Q1 2019 to Q1 2020; nCino is expected to go public next week. Techcrunch.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.