Affirm sets IPO price range, aims to raise up to USD 934.8 mln

Wednesday 6 January 2021 08:31 CET | News

Affirm has announced a target up to USD 38 per share in IPO, aiming to raise up to USD 934.8 million.

The news comes nearly a month after the fintech company, which offers instalment loans to online consumers reportedly delayed its IPO plans.

Affirm, in an S-1/A filing with the US Securities and Exchange Commission, said it intends to offer 24.6 million shares priced between USD 33 and USD 38 per share. The company will list its shares on the Nasdaq Global Select Market under the symbol AFRM.

The company went on to raise about USD 1.5 billion in funding from investors including Durable Capital Partners, GIC, Thrive Capital and Spark Capital. It most recently raised a USD 500 million Series G round led by Durable and GIC in September 2020.

In its S-1 filing made in November 2020, Affirm reported net revenue of USD 509.5 million for the fiscal year that ended on June 30, 2020. That’s up nearly 93% from the same period in 2019. It also revealed that nearly a third of its revenue stemmed from a single merchant partner: Peloton.

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Keywords: IPO, Affirm, pay later, instalments, funding, online payments
Categories: Payments & Commerce
Countries: United States
This article is part of category

Payments & Commerce