Atlanta Fintech CEO Trevor Lindqvist Takes Startup Public on Nasdaq

Trevor Lindqvist rang the opening bell at Nasdaq this week as his Atlanta-based payments company, Ledgerpeak, completed its long-anticipated initial public offering, capping a decade-long climb from a two-person startup working out of a shared office space to a publicly traded company valued at roughly $1.9 billion.

Lindqvist founded Ledgerpeak in 2016 to help mid-sized retailers process payments more cheaply than legacy banking rails allowed. The company kept its headquarters in Atlanta's fintech corridor even as it scaled, a decision Lindqvist has credited with helping Ledgerpeak recruit engineering talent drawn to Georgia's growing payments industry cluster without the cost of relocating to New York or San Francisco.

"Atlanta already had the payments talent before we ever needed it — this city processes more card transactions than almost anywhere else in the country," Lindqvist said following the bell-ringing ceremony. "A lot of people assumed we'd eventually move to New York the moment we raised a serious funding round. We never did, and I think that decision paid off."

Ledgerpeak's IPO priced above its expected range, and shares climbed further in early trading, making Lindqvist's personal stake worth an estimated $290 million on paper. The company processes payments for roughly 35,000 retailers globally and employs close to 850 people, with the majority of its workforce still based at its Atlanta headquarters.

Local officials have pointed to Ledgerpeak's growth as validation of Atlanta's yearslong push to position itself as one of the country's leading fintech hubs.