Transportation technology company Via Transportation and certain existing investors raised $492.9 million in a US initial public offering (IPO) on Thursday, the latest example of a rebound in IPO activity in September.

The New York-based company priced approximately 10.7 million shares at $46 per share, above its estimated range of $40-44 per share, valuing the company at $3.65 billion.

US IPO market activity rebounded in the fall of 2025, driven by a buoyant stock market, rising expectations of interest rate cuts, and strong IPO performances from several large companies.

Investor concerns about US President Trump's trade policies, which forced several companies to shelve their IPO plans earlier this year, are beginning to fade, a welcome development for companies looking to tap the public markets.

Klarna, a Swedish fintech company, saw its US-listed shares rise 30% on Wednesday, September 10, in one of the year's most anticipated IPOs.

Founded in 2012, Via's technology combines on-demand ride-sharing with intelligent routing to optimize public transportation systems in hundreds of cities in over 30 countries.

Via first confidentially filed for an IPO in late 2021. A 2023 funding round led by venture capital firm 83North valued the company at $3.5 billion.