Paymentus Holdings, a electronic billing platform provider, raised $210 million by offering 10 million shares at $21, the high end of the range of $19 to $21. New investors Capital World Investors and Franklin Advisors had each indicated on up to $30 million worth of shares in the offering, and the company had planned to raise an additional $50 million in a concurrent private placement to Accel-KKR. At pricing, the company commands a fully diluted market value of $2.6 billion.
Paymentus provides flexible and secure electronic bill payment solutions through an omni-channel payment infrastructure that allows consumers and businesses to pay bills using their preferred payment type and channel. As of December 31, 2020, the company had approximately more than 1,300 business clients (its billers), and its platform was used by approximately 16 million consumers and businesses in North America to pay bills and engage with these billers.
Paymentus Holdings plans to list on the NYSE under the symbol PAY. Goldman Sachs, J.P. Morgan, BofA Securities, Citi, Baird, Nomura Securities, Raymond James, and Wells Fargo Securities acted as lead managers on the deal.
