Payments

Paymentus files for IPO at valuation up to $2.4B

The electronic billing and payments company is seeking to raise up to $210 million in its public market debut

Paymentus, an electronic billing and payments company, has filed with the Securities and Exchange Commission to secure up to $210 million at a valuation of up to $2.4 billion through a U.S. IPO, Reuters reported. 

The SEC filing shows that Paymentus, which is based in Washington, is offering 10 million shares priced between $19 and $21 for the public offering, PYMNTS reported. 

The company has seen some traction this year, with Q1 revenue up 32% at $92.2 million compared to the same time in the prior year, Reuters reported.

The IPO is being underwritten by Citigroup, Bank of America Securities and Goldman Sachs, the news organization said. 

This year has already seen a flurry of fintechs filing to go public through various means, whether its an IPO, SPAC or direct listing.

Just yesterday we reported that payments technology company Marqeta has filed to go public with the Securities and Exchange Commission.Despite the many headwinds of 2020, Marqeta’s annual revenue more than doubled to $290.3 million and saw a loss of $47.7 million, CNBC reports.

We also reported in early May that global payments remittance processor Remitly is prepping for an initial public offering that could value it at about $5 billion, Reuters reported citing sources familiar with the matter.

Many fintech companies have benefited from the COVID-19 pandemic as the shift to digital accelerated trends that were already occurring in the financial and technology sectors. Which explains why we’re seeing so many fintech companies mature and head to the public markets.

Latest Articles

2022 HousingWire TECH100 Real Estate Honorees HW+
Mar 11, 2022 By

This year’s list of TECH100 Real Estate honorees represent a huge shift in the direction that the real estate industry is heading in. Though real estate may have fallen behind in technological advances compared to other industries in the past, all of that is changing, and this year’s list of Tech100 winners embody that shift. […]

Content from our partners

Log In

Forgot Password?

Don't have an account? Please

Register

Forgot Password

Please enter your registered email address below to receive a password reset link.

Check Your Email

A password reset email has been sent to the email address on file for your account, but may take several minutes to show up in your inbox. Please wait at least 10 minutes before attempting another reset.

Welcome to FinAssist

Go to your inbox and open 'Welcome to FinAssist, your company discovery platform' to get started. You may also skip your inbox and 'Start tutorial'.