San Francisco-based Affirm Holdings, Inc mentioned Thursday that it has filed confidentially for an preliminary public providing with america Securities and Change Fee.
What Occurred: The shares to be supplied — and the price vary of the IPO — are but to be decided.
The general public providing will happen after the SEC concludes its assessment course of and is topic to market and different situations, the corporate mentioned.
The submitting comes after the fintech startup secured $500 million in a Collection G funding spherical final month led by Sturdy Capital Companions LP and current investor GIC.
The corporate has raised over $1.5 billion in a number of funding rounds to this point, as per information from Crunchbase.
Why It Issues: Affirm, based in 2012 by Paypal Holdings Inc (NASDAQ: PYPL) co-founder Max Levchin, permits shoppers of firms resembling Walmart Inc (NYSE: WMT) and Expedia Group Inc (NASDAQ: EXPE) to make purchases on the internet with out utilizing a bank card.
In late July, the Wall Street Journal reported that the startup may merge itself with a particular objective acquisition firm (SPAC) to go public, focusing on a valuation of as much as $10 billion.
SoftBank Group Company (OTC: SFTBY)-backed Lemonade Inc (NASDAQ: LMND), one other fintech agency, raised $319 million in its IPO in July.
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