Affirm, which provides installment loans to online shoppers, priced its U.S. initial public offering above its marketed range at $49 a share according to people with knowledge of the matter.

It raised roughly $1.2 billion, the people said, asking not to be identified because the matter is private.

A representative for San Francisco-based Affirm declined to comment.

Affirm, the first major U.S. technology listing this year, had earlier boosted its range this week from $33 to $38 each to $41 to $44 on Monday, filings with the U.S. Securities and Exchange Commission showed. It had planned to sell 24.6 million shares.

It will be the first of several companies looking to list shares this week after a hot year for IPOs in 2020 led by Airbnb and DoorDash. Online marketplace for secondhand luxury goods Poshmark, pet supply retailer Petco Animal Supplies, mobile game developer Playtika and auto service and supply company Driven Brands Holdings are all on deck to go public.

At $49 a share, Affirm would have a market capitalization of about $11.9 billion, based on the outstanding shares listed in its filing. Its fully diluted value could be as much as $15 billion, including options and restricted stock units.

Affirm was founded in 2012 by Max Levchin, who also co-founded PayPal Holdings. Levchin is the company’s single biggest shareholder, according to filings. Other large owners include Jasmine Ventures, Khosla Ventures, Founders Fund, Lightspeed Venture Partners and Shopify.

Affirm postponed its IPO from December alongside game developer Roblox Inc., which eventually decided to pursue a direct listing.

Morgan Stanley, Goldman Sachs Group Inc. and Allen & Co. led Affirm’s IPO. It plans to list on the Nasdaq Global Select Market under the symbol AFRM.

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