• Subscribe
  • Contact Us
  • About LendIt Fintech News
  • Home
  • Menu Item
  • Menu Item
  • Menu Item
  • Menu Item

Lend Academy

LendIt Fintech News: Daily Coverage of Fintech & Online Lending


  • Editorial
  • Daily News
  • Podcast
  • Investor Forum
  • Events

New Fintech IPO on the Horizon with GreenSky

The latest fintech IPO is likely to be GreenSky which focuses on point of sale finance.

April 2, 2018 By Ryan Lichtenwald 1 Comment

Views: 33

One of the quiet achievers in fintech is a company called GreenSky. They have flown under the radar for years despite their astounding success. Every time the Lend Academy team has seen them mentioned in the press we take great interest since little is known about the company. It wasn’t until this cover story in Forbes last year that we learned much at all.

This could be about to change. The Wall Street Journal reported this afternoon that GreenSky has confidentially filed with the SEC for an IPO. From the article:

The Atlanta company, which operates a lending platform that enables retailers, health-care providers and home contractors to offer loans to their customers, could seek to raise $1 billion at a valuation of roughly $5 billion, some of the people said.

If GreenSky manages to raise $1 billion in a debut, it would be in rare company. Since 2015, just six U.S.-listed technology companies have raised that much or more, according to data provider Dealogic.

So who is GreenSky exactly and what do they do? We wrote about the company earlier this year when we learned of their $200 million funding round from PIMCO which made them the most valuable company in the online lending space. The company has a unique model where they partner with merchants and contractors to offer financing at the point of sale. They view themselves as more of a tech company since they do not actually lend any money. This capital light business model has likely led to much of the success they have seen. Instead of lending their own money GreenSky has relationships with about 15 banks. On the tech side, the process is paperless and all done through a mobile device.

According to details from the WSJ, the IPO could happen as soon as this summer for the Atlanta based company. However, people noted that the IPO plans are still in their early stages and the company may still do another private share sale.

Conclusion

It has been quite some time since we’ve seen a US fintech IPO, but GreenSky could change all of that. There are many companies out there that have publicly indicated a willingness to do an IPO when conditions become favorable. Maybe the GreenSky IPO could provide a trigger and we could see more companies follow. Other fintech IPOs across the globe that may come to fruition this year include FundingCircle and Lufax who have discussed going public in London and Hong Kong respectively.

Filed Under: Peer to Peer Lending Tagged With: GreenSky, IPO, Point of Sale Finance

Views: 33

Trackbacks

  1. GreenSky Files for an IPO says:
    April 30, 2018 at 4:55 pm

    […] we wrote a few weeks ago GreenSky has been gearing up for a possible IPO. Well, on Friday it became official. Greensky filed […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Investor Intelligence

Peter Renton's Returns

Investor Forum

Lending Club Review

Prosper Review

Investor Resources

Most Popular Editorials

The Pure Marketplace Lending Model is Dead, the Hybrid Takes its Place

The 2018 Lending Club and Prosper Tax Guide

My Returns at Lending Club and Prosper

Map of Available States for Lending Club and Prosper Investors

Banks and Marketplace Lending Platforms: Ideal Partners?

Subscribe to the Podcast

Subscribe to the Lend Academy Podcast on iTunes
Subscribe to the Lend Academy Podcast
List of Podcast Episodes

Archives

Follow @LendAcademy Follow @LendIt

ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

Recent Editorials

  • Podcast 225: Noah Breslow of OnDeck Capital
  • FINNOSUMMIT Miami by LendIt Fintech – Highlights From Our First Latin American Event
  • LendIt Fintech USA 2020 Call for Speakers
  • Experian Introduces New Credit Scoring Suite for Thin File Consumers
  • Marketplace Lending News Roundup – November 23, 2019

Copyright © 2019 · Metro Pro Theme on Genesis Framework · WordPress · Log in