Blackstone, Warburg explore IntraFi sale at over $10 billion
BX•BX•BX•BX•Blackstone and Warburg Pincus are exploring a sale of IntraFi that could value the financial technology company at more than $10 billion. The early-stage process has no final decision, and IntraFi generates $630 million in annual EBITDA, sources said.
Blackstone and Warburg Pincus have hired Morgan Stanley and Guggenheim Securities to advise IntraFi on a sale process that is in its early stages. The firms could decide to keep the business, and no final decision has been made.
IntraFi operates a network that helps banks spread customers’ deposits across multiple banks to provide federal deposit insurance on balances above $250,000. Its network also lets banks buy and sell deposits, earning IntraFi transaction fees. The company generates $630 million in annual EBITDA, sources said.
Blackstone acquired IntraFi in 2019 from a group of backers that included Bank of New York Mellon, when the company was known as Promontory Interfinancial Network. Warburg Pincus invested in the business in 2022. The two firms previously explored a sale in 2024.
