RedCloud Holdings, which operates a B2B platform for sellers of consumer goods in emerging markets, announced terms for its IPO on Monday.
The London, UK-based company plans to raise $55 million by offering 11 million shares at a price range of $4 to $6. At the midpoint of the proposed range, RedCloud Holdings would command a fully diluted market value of $352 million.
The company operates the RedCloud platform, which facilitates the trading of everyday consumer supplies of fast-moving consumer goods across business supply chains. Through the platform, the company enables retailers to use data-driven, AI-backed insights to help make faster and easier business-to-business (B2B) purchases and inventory decisions from brands and distributors. RedCloud currently operates its platform in regions that it considers high-growth consumer markets: Argentina, Brazil, Nigeria, and South Africa.
RedCloud Holdings was founded in 2014 and booked $30 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol RCT. Roth Capital, Clear Street, and Rosenblatt Securities are the joint bookrunners on the deal.
