CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

AvidXchange targets IPO share price range of $21-$23

By Monte Stewart

18:00, 4 October 2021

AvidXchange hopes to raise $506m in its IPO
AvidXchange online image - Photo: Shutterstock

Automated payment firm AvidXchange hopes to raise $506m (£371.7m) in its upcoming traditional IPO.

Charlotte, North Carolina-based AvidXchange plans to issue 22 million shares at a price range of $21-$23 apiece, the company revealed Monday 4 October in a US Securities and Exchange Commission filing. The company is expected to list next week on the Nasdaq under the symbol AVDX.

Goldman Sachs and JP Morgan are the lead underwriters. AvidXchange estimates that it will receive $512.1m if the underwriters opt to purchase their full allotment of shares based on the $22 midpoint.

If all goes according to plan, AvidXchange will achieve a market valuation of about $4.4bn based on about 191.3 million outstanding shares. Capital Research, an existing shareholder, and new investors BlackRock and Neuberger Berman plan to purchase 140 million shares as part of the IPO.

Peter Thiel among backers

AvidXchange’s other backers include PayPal co-founder Peter Thiel, Mastercard and Canadian pension-fund manager Caisse de dépôt et placement du Québec.

AvidXchange plans to use the proceeds to redeem preferred stock and for general corporate purposes, including more hires and working capital. The company said it may also use some of the money to acquire complementary businesses, but it currently does not have any acquisition plans.

Middle-market business

Founded in 2000, AvidXchange touts itself as a leading provider of accounts payable (AP) automation software and payment services for middle-market companies, which the company defines as firms generating revenue between $5m and $1bn and their suppliers.


14,258.40 Price
-0.790% 1D Chg, %
Long position overnight fee -0.0255%
Short position overnight fee 0.0032%
Overnight fee time 21:00 (UTC)
Spread 1.8

Oil - Crude

68.18 Price
-2.160% 1D Chg, %
Long position overnight fee -0.0208%
Short position overnight fee -0.0011%
Overnight fee time 21:00 (UTC)
Spread 0.03


1,963.39 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0089%
Short position overnight fee 0.0006%
Overnight fee time 21:00 (UTC)
Spread 0.30


0.52 Price
-1.450% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.00391

AvidXchange considers middle-market businesses to be underserved because their AP needs fall between those required by small and midsize businesses and large enterprises.

“We built our business to solve this gap for the middle market and believe we have become a uniquely strategic platform for our customers’ CFOs, treasurers and finance teams by digitally transforming how they receive, manage and pay their bills,” said AvidXchange in the regulatory filing.

Revenues up

The company said its software-as-a-service platform has provided automated and digitised AP workflows for 7,000 businesses and 700,000 suppliers.

For the first six months of 2021, AvidXchange reported revenue of $113.9m, up 33.2% from $85.5m a year earlier. But the firm’s net loss increased 82.0% to $92.0m from $50.6m in the first half of 2020.

The company said it has generated a net loss of $484m since its inception.

Read more: Crude futures jump as OPEC keeps output plan

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 530.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading