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May 22, 2021TransactionWatch

TransactionWatch – Week of May 17th – May 21st

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The payments industry is witnessing some significant traction in upcoming IPOs as several payment providers release new details regarding going public. To start, Marqeta has filed their S-1 Form last Friday (May 14th) and is anticipating to be valued at around $16 billion to $17 billion as a result. The company was last valued at around $4.3 billion roughly one year ago. Furthermore, as noted in their prospectus, the company reported first quarter revenue of $108 million, showing an increase of 123%, and processed approximately $60 billion in 2020 payment volume. Marqeta will trade on the Nasdaq under the ticker MQ.

In other news, Paymentus announced on Monday (May 17th) that they were aiming for a valuation of up to $2.4 billion. Based on the pricing of their offering, Paymentus is anticipating to raise up to $210 million in funding according to their SEC filing. Separately, the leading buy now, pay later (BNPL) firm Klarna is withholding its decision to go forward on an IPO listing until the details of the U.K.’s post-Brexit financial services rules are determined. Klarna recently raised $1 billion in a funding round earlier this year which valued the company at $31 billion.

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