Money Transfer Firm Remitly Leads Trio Of Fintech IPOs

By Elise Hansen (September 23, 2021, 7:56 PM EDT) -- A trio of financial technology companies started trading Thursday led by a $523 million initial public offering from Remitly, which offers a mobile app for remittances and financial services.

Seattle-headquartered Remitly Global Inc.'s $523 million offering was followed by customer engagement and payments company EngageSmart Inc., which raised about $378.3 million, and cryptocurrency mining company Argo Blockchain PLC, which raised $112.5 million.

All three companies could bring in more funds if their underwriters use their overallotment option to purchase additional shares.

Remitly offered 7 million of the nearly 12.2 million shares on offer in its IPO, making its proceeds from the...

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