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Electronic billing startup Paymentus targets over $2 billion valuation in U.S. IPO

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(Reuters) – Billing and payments network Paymentus Holdings Inc said on Monday it was aiming for a valuation of up to $2.43 billion in its initial public offering in the United States.

The Redmond, Washington-based company, which is offering 10 million shares priced between $19 and $21 apiece, is targeting to raise up to $210 million, its filing showed. (https://bit.ly/3uUvJpH)

The company’s revenue rose 32% to $92.2 million in the three months ended March 31, its filing showed, buoyed by increased adoption of online payment.

Payments startup Marqeta also made public its paperwork for a stock market listing last week, aiming to cash in on the high investor appetite for new listings.

Goldman Sachs, J.P. Morgan, BofA Securities and Citigroup are the lead underwriters for Paymentus’ offering. The company said it would list its shares on the New York Stock Exchange under the symbol “PAY“.

(Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi)

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