“AvidXchange Holdings Inc is looking to raise up to $506 million in a U.S. initial public offering (IPO), according to a regulatory filing on Monday, that could value the business payments firm at about $4.4 billion. The company, which is backed by billionaire Peter Thiel, was valued at $2 billion in a funding round in April last year. Reuters reported in March that AvidXchange had hired investment banks to prepare for an IPO.”