The IPO market is gearing up for a scorching near the second quarter and a warmer Q3.
That’s The Change’s takeaway from latest IPO filings from Monday.com (enterprise planning and communications) and a variety of SPAC-led mixtures from Hen (scooter sharing), Brilliant Machines (AI-powered microfactories) and others. Wanting forward, Squarespace (web site design and internet hosting) will direct record this week, whereas Oatly (pressed grain juice) and Procore (building tech) will value and full conventional IPOs within the subsequent few days.
Late final week, Marqeta (card issuing and funds tech) filed as effectively, and simply this morning, Flywire (international funds) set a value vary for its personal debut. The 2 fintechs are our targets right now, although we’ll take them in sequential posts.
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Public equities have seen some value declines in latest classes, and there’s been observable multiples-compression afoot amongst each tech shares and shares extra typically. However many firms are betting that it stays a fertile second to record. A sluggish drift downward within the worth of expertise income, in different phrases, just isn’t stopping what might be an enthusiastic exit market from right here to the tip of the 12 months.
Neglect the bigger marketplace for now. Let’s slim our focus to Marqeta, lengthy a darling of the fintech market although much less well-known than some firms in its sector on account of its infrastructure nature.
If you’re not acquainted with Marqeta, it powers the fee card tech behind merchandise that you simply use, like Sq., a key buyer and driver of the unicorn’s progress. Marqeta reveals a variety of fascinating fintech traits (majority income from interchange, a rabidly aggressive market) that make it very fascinating to unspool.