Exclusive-British data group Quantexa exploring UK or US IPO

British artificial intelligence company Quantexa is considering a listing on either the UK or US stock market, according to its CEO. The company, founded in 2016, specializes in AI software that helps organizations manage and analyze large amounts of data for tasks like fraud detection and financial crime prevention. Quantexa's CEO, Vishal Marria, stated that the company can choose to list in the UK, US, or both, and has not decided on a timeline for a public offering.

A potential U.S. listing would provide Quantexa with access to a larger pool of capital and the possibility of a higher valuation. The CEO also noted that the U.S. offers a more extensive capital source and the potential for a higher valuation compared to the UK. Quantexa has been "IPO-ready" since January, but the company has not commented on the timing of an IPO.

The AI software provider, which has contracts with the UK's Revenue and Customs agency and the National Health Service (NHS), is also competing for a single patient record program by the NHS. Meanwhile, minority shareholder Warburg Pincus is exploring options for its 9% to 10% stake in Quantexa, including a potential sale, according to two sources familiar with the matter.