Affirm IPO Stock Soars As Trading Begins, Raising $1.2 Billion

Affirm’s mission is to deliver honest financial products that improve lives. With that in mind, we are building the next generation platform for digital and mobile-first commerce, making it easier for consumers to spend responsibly and with confidence, easier for merchants to convert sales and grow, and easier for commerce to thrive.

Affirm Holdings raised $1.2 billion with an initial public offering that priced well above expectations and gave it a valuation of about $23 billion. The Affirm IPO jumped by double digits on its first day of trading Wednesday.

The company offered 24.6 million shares at $49, well above its estimated price range of $41 to $44. It initially planned to price shares at $33 to $38.

Affirm stock closed at 97.24, up 98.5% on the stock market today.

Investors include Founders Fund, a venture capital firm formed by former PayPal co-founder Peter Thiel. Other investors include Khosla Ventures.

Sourсe: investors.com