Adds details on company, background on IPO market
Oct 8 (Reuters) – PayPal Holdings Inc PYPL.O co-founder Max Levchin’s Affirm Holdings Inc has confidentially filed with the U.S. securities and exchange commission for an initial public offering, the lending startup said on Thursday.
The move comes amid a massive rebound in the IPO market that came to a halt in April due to the economic uncertainty from the COVID-19 pandemic. The likes of short-term home rental company Airbnb and food delivery company DoorDash are also gearing up for IPOs later this year.
Companies have raised more than $100 billion in U.S. IPOs so far in 2020, comfortably outpacing a $62.5 billion haul in 2019, and on track to be the biggest year since 2000, according to data from Dealogic.
Levchin started Affirm in 2013 to give consumers without credit history or savings accounts access to small loans. The startup