F-Prime, a VC firm with over $4.5 billion in assets under management, has identified several fintech startups that have the potential to go public in 2024. These companies, which include Stripe, Klarna, Lendbuzz, Chime, Plaid, Rippling, Gusto, Deel, and several others, have been generating substantial revenue and experiencing significant growth. While it remains to be seen if they will go public this year, their potential IPOs could provide valuable insights into the financial performance of these companies.
Stripe, a payments giant valued at $50 billion, had set a 12-month deadline for itself to go public but has not made any official announcements. Despite laying off 14% of its staff last year, Stripe continues to expand its offerings and acquire new startups. Klarna, a Swedish fintech company, has been taking steps towards an eventual IPO, including creating a new legal entity to facilitate listing on a stock exchange.
Lendbuzz, a fintech company focused on providing auto loans to those without a credit history, has hired investment banks for a potential IPO that could value the company at over $2 billion. Chime, a neobank that was initially valued at $25 billion, has faced setbacks but might consider going public this year.
Plaid, a company that connects consumer bank accounts to financial applications, has made key hires that suggest it is tracking towards an eventual IPO, although no specific details or timeline have been shared.
In the HR tech space, Rippling, Gusto, and Deel have emerged as leading companies. Rippling, which secured $500 million in funding last year, has been vocal about its competition with Gusto and Deel. Both Gusto and Deel have reported impressive revenue figures and could potentially go public.
Brex, Ramp, Airbase, Navan, and Mesh Payments are some of the players in the spend management space. Navan has already filed confidentially for an IPO at a $12 billion valuation, but no further updates have been provided. Brex and Ramp have faced challenges, including layoffs and cash burn, while Airbase and Mesh Payments have yet to announce any IPO plans.
Overall, the fintech space is buzzing with potential IPOs in 2024. These companies have garnered significant attention with their impressive revenue figures and growth potential. While it remains to be seen which ones will actually go public, the industry and investors are eagerly awaiting further developments.
