FILE PHOTO: A trader walks past on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 14, 2025. REUTERS/Brendan McDermid/File Photo

By Arasu Kannagi Basil

(Reuters) -Via Transportation's revenue rose 27% in the first half of 2025, the travel-technology company disclosed on Friday in its U.S. initial public offering paperwork, as it advances plans for a long-sought New York listing.

The company posted a net loss of $37.5 million on revenue of $205.8 million for the six months ended June 30, narrowing from a net loss of $50.4 million on $162.6 million in revenue a year earlier.

Founded in 2012, New York-based Via develops technology that powers public transit systems in hundreds of cities across more than 30 countries.

The bulk of its revenue comes from North America, with the remainder from Europe. Its clients include municipalities, transit agencies, transport operators, school districts, universities, and corporations.

Via first confidentially filed for an IPO in late 2021. The company was valued at $3.5 billion in a 2023 funding round led by venture firm 83North. Other major shareholders include Pitango and Exor, the investment firm of Italy's Agnelli family.

U.S. initial public offerings have rebounded strongly following a slowdown in April caused by tariff-driven volatility. The successful debuts of several high-profile companies have further energized the IPO market.

"During the next few weeks, IPO activity is expected to be seasonally subdued. Afterwards, we expect U.S. IPO activity to continue to come in at a brisk pace, driven by strong sentiment for stocks as a whole," IPOX CEO Josef Schuster said.

"The Via IPO will test the sentiment for other IPOs in this space, including Navan."

Travel-tech firm Navan also confidentially filed for a New York IPO earlier this year.

Goldman Sachs, Morgan Stanley, Allen & Company, and Wells Fargo Securities are acting as lead underwriters. The company plans to list its shares on the New York Stock Exchange under the ticker symbol "VIA."

Proceeds from the offering will be used for general corporate purposes, including expansion into new markets and increased investment in sales and marketing.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Tasim Zahid)