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.