, which offers cloud-based software to banks, is exploring its options, including a potential sale, after attracting takeover interest from private equity firms, people familiar with the matter said on Friday.
Insight Partners, a private equity firm that owns about 35% of nCino, has not yet decided whether it will participate in any potential deal or simply cash out, the sources added. Spokespeople for nCino did not immediately respond to requests for comment, while Insight Partners declined to comment. Based in Wilmington, North Carolina, nCino offers cloud-based software to banks and financial institutions that helps digitize their processes, including around lending and deposit-taking. It was spun out off North Carolina-based Live Oak BancsharesThe company subsequently attracted several venture capital investors beyond Insight Partners, including Wellington Management, Salesforce Ventures, Bessemer Partners and T. Rowe Price.