Via Transportation surges in $493M IPO at $3.65B valuation, boosts transit tech and fall IPO momentum

Via Transportation hit Wall Street with force on Thursday, raising $492.9 million in its U.S. initial public offering and securing a valuation of $3.65 billion. The New York-based transit tech firm priced its shares at $46 apiece, above the marketed range of $40 to $44, signaling strong demand as investors return to the IPO market, according to Reuters.

The deal adds Via to a growing list of companies riding September’s rebound in public offerings. After a sluggish summer, activity is picking up, fueled by optimism over potential rate cuts, a buoyant stock market, and a string of well-received debuts. Investor concerns around tariffs imposed by U.S. President Donald Trump—anxieties that sidelined several IPO hopefuls earlier in the year—have also begun to fade, creating a more welcoming environment for new listings.

Via Transportation is not alone. The company joins a wave of tech companies that recently hit Wall Street. As we reported yesterday, Klarna’s long-awaited U.S. debut sent shares soaring 30% at open, setting the tone for other high-profile offerings. Now, Via is stepping into that same spotlight. Crypto lender Figure Technology also raised $787.5 million in its IPO, reaching a $5.3 billion valuation on the back of strong revenue growth.

Founded in 2012, Via built its business on tech that combines on-demand shared rides with intelligent routing to help cities and transit agencies optimize public transportation. Its software is used across hundreds of cities in more than 30 countries, an approach that fits neatly into the push for more sustainable, mixed-mode transit systems. With congestion rising and environmental concerns mounting, city governments are under pressure to rethink how people move—and Via has positioned itself as a partner in that shift.

The company confidentially filed for an IPO in late 2021 but waited out the market turbulence that derailed many tech listings. It was valued at $3.5 billion in a 2023 funding round led by venture firm 83North, a number now eclipsed by today’s public debut, Reuters reported.

Goldman Sachs, Morgan Stanley, Allen & Company, and Wells Fargo led the underwriting for the offering. Via will begin trading on Friday on the New York Stock Exchange under the ticker “VIA.”

The IPO window is far from closed. Gemini, the cryptocurrency exchange founded by the Winklevoss twins, and Legence, a Blackstone-backed engineering and maintenance provider, are both slated to list on Friday. If strong demand holds, September could mark a decisive turning point for companies waiting to test investor appetite.