Shift4 started planning for its IPO in 2019, initially looking to list in the first quarter of 2020. As the coronavirus pandemic began to wreck havoc on markets, the process was slowed, Isaacman said. The payments fintech's target customers are restaurants, hospitality, and specialty retail companies.But as payments volumes began to trend up in April and May across Shift4's customer base, the idea of listing regained steam.
The company has yet to turn a profit, but has seen consistent year-over-year revenue growth since its founding in 1999, Isaacman said. See more: "We attribute that to our concentration in restaurants because it was one of the first industries people reengaged with once they felt a little bit safer," Isaacman said.
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