The initial public offering (IPO) market remains red-hot right now. For investors looking at the next potential big winner, financial technology company AvidXchange Holdings (NASDAQ:AVDX) is one many investors have on their radar. The recent AVDX stock IPO saw this fintech company raise a boatload of cash to fund its growth prospects.
As a platform providing accounts payable and other financial functions for small- and medium-sized businesses, AvidXchange is a fintech company with a lot of promise. Investors banking on a fintech revolution have been well-rewarded in recent years. For those considering AvidXchange, there’s certainly reason to be bullish.
Indeed, any company that’s backed by big names such as Peter Thiel and companies like Mastercard (NYSE:MA) ought to be given a hard look.
Let’s dive into a few things investors may want to know about this company.
What to Know About the AVDX Stock IPO
- AvidXchange went public today at a $4.9 billion valuation.
- The company sold 26.4 million shares of stock at $25 apiece.
- This sale took place at the higher end of the marketing range.
- AvidXchange brought in $114 million this past year, making its $4.9 billion valuation stand out.
- Additionally, the company reported a net loss of $92 million this past year.
- Accordingly, investors appear to be bullish on the company’s revenue growth prospects.
- AvidXchange reported 34% revenue growth year-over-year.
- AVDX stock began trading today at $25 per share.
- However, shares have since slipped to as low as $23.35 in today’s trading.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.