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Our fourth IPO story for the day! This one goes out to AvidXchangeINTL

Our fourth IPO story for the day! This one goes out to AvidXchange

This our last IPO story of the day, we promise! Business payments company AvidXchange is reportedly gearing up for its own initial public offering, which would give it a whopping $7b valuation.

AvidXchange, which provides payment processing software for small and medium-sized businesses, is backed by fellow A-listers Mastercard (MA) and PayPal (PYPL). Word on the street is that if investor appetite is strong enough, this public listing might even up its worth to $10b! Given that the company was valued at just $2b in a private fundraising last year, this IPO would definitely be a huge Kardashian-style glow-up.

why it matters
FinTech players like AvidXchange actually benefited from Covid-19 restrictions, which forced smaller companies to look for digital alternatives to paper-based daily tasks. Meanwhile, some of its listed peers, like Bill.com Holdings (BILL), have grown massively over the last year. Since the IPO market is raving at the moment, now is a great time for AvidXchange to go public.