Companies · Fintech

Shift4 Payments, Inc.

Allentown · Fintech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Shift4 Payments, Inc. — recommendation, valuation, rhythm, risks.
$38.5M
Total raised · real
5
Rounds
0.3×
Latest step-up
Top 6%
Sector rank · raised
Series B
Latest stage · inferred · Mon Jan 23 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Shift4 Payments, Inc. looks under-valued against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the fintech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.05× the median modeled value of Series B Fintech companies in 2022–2024 (14 peers) — value vs value, same stage and era.
  • Issuer reports $100M+ revenue while modeled below niche peers.
At-risk
  • Last raise 3.4 yr ago; this sector typically re-raises about every 12 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Fintech

Shift4 Payments, Inc. is one of 1063 Fintech companies tracked from Allentown. By capital raised it ranks among the largest (ahead of 95% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

fintech

As reported in public records reported — not modeled.

US
Jurisdiction
$100M+
Issuer revenue
Rule 506(b)
Reg D exemption
8
Investors (latest)
2019
Year incorporated
2023-01-23
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$125M$250M$375M$500MPre-Seed · 2022-06-15 Raised $624K (real) Modeled valuation $9.3M (est)$624K$9.3MPre-Seed2022Series B · 2022-08-31 Raised $25M (real) Modeled valuation $357M (est)$25M$357MSeries B2022Series B · 2022-10-31 Raised $7.9M (real) Modeled valuation $107M (est)$7.9M$107MSeries B2022Series B · 2022-12-19 Raised $4.0M (real) Modeled valuation $52M (est)$4.0M$52MSeries B2022Series B · 2023-01-23 Raised $1.2M (real) Modeled valuation $15M (est)$1.2M$15MSeries B2023+$25M+$7.9M+$4.0M+$1.2MCumulative $38M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$624K · 2022
Series B$24.8M · 2022no Seed / Series A on file
Series B extension$7.9M · 2022
Series B extension$4.0M · 2022
Series B extension$1.2M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$14.9M
Base estimate est.
$2.9M
Conservative case
$35.2M
Upside case
$6.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the fintech sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $9.3M · 2022-06-152022Series B · modeled $357.0M · 2022-08-31Series B · modeled $107.1M · 2022-10-31Series B · modeled $52.0M · 2022-12-19Series B · modeled $14.9M · 2023-01-232023
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 80% high
1.43×/yr
Annual markup
1.74×/yr upside case
3.4 yr
Elapsed time used
3.4 yr actual, capped for stale marks
fintech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
2 mo
Avg between rounds
$63.3M/yr
Capital velocity
4.0 yr
On record since
2022
First round
5
Rounds on file
How it compares to the market

Benchmarked against 1063 companies in Fintech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 9.0× above median
This company$38.5M
Sector median$4.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$1.2M
Sector median$20.0M
Modeled value — vs sector median (estimate, all stages) 0.3× of median
This company$14.9M
Sector median$45.0M

Raised more than 95% of sector peers (real $). Modeled value above 75% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #14 of 14.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)PayMongo Inc. · Series B Raised $45.8M · modeled $538.6M (est)Treasury Prime Inc. · Series B Raised $54.1M · modeled $490.4M (est)Advisor Credit Exchange, LLC · Series B Raised $31.3M · modeled $364.0M (est)Butter Payments, Inc. · Series B Raised $27.5M · modeled $360.1M (est)Apto Payments, Inc. · Series B Raised $27.2M · modeled $357.6M (est)Nomba · Series B Raised $30.0M · modeled $339.9M (est)Forward Lending, Inc. · Series B Raised $55.8M · modeled $293.3M (est)Mozaic Payments, Inc. · Series B Raised $25.6M · modeled $250.7M (est)PayAll Payment Systems, Inc. · Series B Raised $17.2M · modeled $240.9M (est)Wealth, Inc./AZ · Series B Raised $29.1M · modeled $201.8M (est)Formance, Inc. · Series B Raised $25.1M · modeled $116.3M (est)Female Invest Inc. · Series B Raised $15.8M · modeled $115.7M (est)Shift4 Payments, Inc. (this company) Raised $38.5M · modeled $14.9M (est)Shift4 Payments, Inc.
CompanyStageRaised · realValue · estvs peer med.
PayMongo Inc.Series B$45.8M$538.6M1.98×
Treasury Prime Inc.Series B$54.1M$490.4M1.80×
Advisor Credit Exchange, LLCSeries B$31.3M$364.0M1.34×
Butter Payments, Inc.Series B$27.5M$360.1M1.32×
Apto Payments, Inc.Series B$27.2M$357.6M1.31×
NombaSeries B$30.0M$339.9M1.25×
Forward Lending, Inc.Series B$55.8M$293.3M1.08×
Mozaic Payments, Inc.Series B$25.6M$250.7M0.92×
PayAll Payment Systems, Inc.Series B$17.2M$240.9M0.89×
Wealth, Inc./AZSeries B$29.1M$201.8M0.74×
Formance, Inc.Series B$25.1M$116.3M0.43×
Female Invest Inc.Series B$15.8M$115.7M0.43×
Shift4 Payments, Inc. this companySeries B$38.5M$14.9M0.05×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$624K2022-06-15$3.5M$9.3M90%
Series B$24.8M2022-08-31$137.5M$357.0M90%
Series B$7.9M2022-10-31$43.8M$107.1M90%
Series B$4.0M2022-12-19$22.3M$52.0M90%
Series B$1.2M2023-01-23$6.6M$14.9M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$624K2022-06-15
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Series B$24.8M2022-08-31
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 39.7× larger than the prior — scaling up.
    • 100 investors on this round.
  3. Series B$7.9M2022-10-31
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 3.1× smaller than the prior — bridge or down round.
    • 33 investors on this round.
  4. Series B$4.0M2022-12-19
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 22 investors on this round.
  5. Series B$1.2M2023-01-23
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 3.4× smaller than the prior — bridge or down round.
    • 8 investors on this round.
Intelligence
2023 ~Q1
Modeled next raise · ~2mo cadence
$1.2M
Modeled next size est.range $1.2M$1.9M
0.3×
Last step-up
$63.3M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Christopher Cruz1 other2022-06
Bradley Herring2022-06
Christopher Roter Cruz2022-08
Donald Isaacman2022-06
Jared Isaacman2022-06
Jonathan Roter Halkyard2022-06
Jordan Frankel2022-06
Karen Roter Davis2022-06
Nancy Disman2022-08
Nancy Roter Disman2022-06
Sam Roter Bakhshandehpour2022-10
Sarah Roter Goldsmith-Grover2022-06
Taylor Lauber2022-06
Registry & provenance

Shift4 Payments, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1794669
SEC CIK
2019
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Heru, Inc.FintechSeries B$32.8M$22.2Msame sector · same stage
Sightline Investor Blocker, LlcOther TechnologySeries B$37.3M$865.7Mnetwork1 shared operator · same stage
CORD:USE Cord Blood Bank IncFintechSeries B$19.4M$7.9Msame sector · same stage
Fondeadora, Inc.FintechSeries A$30.1M$18.8Msame sector
Wefunder, Inc.FintechSeries A$24.7M$9.6Msame sector
Bloom Credit, IncFintechSeries A$21.4M$15.0Msame sector
Bankroll Club, LLCFintechSeries A$16.7M$13.0Msame sector
Trading.TV, Inc.FintechSeries A$15.5M$6.1Msame sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Relay Payments Inc.FintechSeries C$1.1B83%
AppTech Payments Corp.FintechSeed$10.1M82%
Amino Payments, Inc.FintechSeries A$129.0M82%
Pay-i IncFintechSeed$17.9M81%
Straddle Payments, Inc.FintechSeries A$30.2M81%
LFG Payments, Inc.FintechSeries A$57.2M81%
Grape Payments CorpFintechPre-Seed$4.4M80%
Tweed Payments Inc.FintechSeed$53.7M80%
Frequently asked
How much funding has Shift4 Payments, Inc. raised?
Shift4 Payments, Inc. has raised approximately $38.5M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Shift4 Payments, Inc.'s estimated valuation?
Provath's modeled valuation for Shift4 Payments, Inc. is approximately $14.9M (modeled range $2.9M–$35.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Shift4 Payments, Inc. at?
Shift4 Payments, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Jan 23.
What does Shift4 Payments, Inc. do and where is it based?
Shift4 Payments, Inc. operates in the Fintech sector, based in Allentown.
Explore related

See where Shift4 Payments, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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