BioCatch, a behavioral‑based fraud intelligence provider protecting >760 million consumers across >350 financial institutions worldwide, has been sold by Permira toators in an all‑cash deal valuing it at 2.4 bn.

The sale is Permira’s fifth strategic exit of 2026, after returning 16.6 bn to investors over the past year. Permira first took a minority stake in BioCatch in early 2023 via its Ascent strategy and acquired a majority in 2024 to fuel global expansion and product development.

Under Permira, BioCatch broadened its client base, launched Trust, introduced Device IQ, added AI detection to Connect 2.0, and extended proactive fraud detection, including behavior‑based mule account detection. Revenue and gross profit roughly tripled, driven by new wins and expansion. By July 2026, the firm analyzed >19 billion digital sessions monthly across 1.8 billion devices.

Stefan Dziarski, partner and global head of Permira Ascent, said the business tackles sophisticated fraud and financial crime, especially in the AI era. The deal awaits regulatory approval.