Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee

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031721

 

Posted March 29, 2021

 

 

CHARLOTTE – Fintech entreprenurial venture AvidXchange is considering a possible initial public offering of stock that would value the company at more than $7 billion.

So reports Reuters news service.

AvidXchange is not commenting.

Reuters cited unnamed sources ‘familiar with the matter.”

AvidXchange already has raised hundreds of millions of dollars in venture capital, is a so-called “unicorn” valued at over $1 billion, so going public is not a surprise.

“Backed by investors including Mastercard Inc and PayPal Holdings Inc co-founder Peter Thiel, AvidXchange provides software that automates payments, invoicing and accounting for small and mid-sized businesses,” Reuters noted.

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