Shares closed Friday at $1.32, above the $1.21 offer price; the company raised a total of $67 million and is now valued at $306.6 million; the IPO was Australia’s biggest tech IPO of the year. Source
It has been a long time since OnDeck and LendingClub went public in the US; the shares of both companies are down significantly since that time; now Funding Circle is planning to go public as late autumn, but what is the right valuation for the company? Financial Times reviews Funding Circle’s business and the importance of whether investors value it as a finance or software business. Source
Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his perspective on the likely fintech IPOs in 2018. Source
Senmiao Technology plans to raise $14 million in a US IPO; the company was founded in 2014 and plans to list on the Nasdaq with symbol AIHS; if the company has a successful IPO, they may be worth around $100 million. Source
The online lender has named Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Corp to work on their upcoming IPO; the IPO is currently slated for the second or third quarter which may value the company around $2 billion; if successful it would be the largest IPO for a British fintech company; Index Ventures, Union Square Ventures and Accel Partners were early investors in the company. Source
Happy New Year everyone. As I do every year at this time I make a few predictions for the year...
The year is barely two weeks old and we have already learned of IPO plans for two of the world’s...
According to The Times, sources say Funding Circle is in no hurry to do an IPO, but if the markets continue to be favorable they may go public in the second half of the year; article also shares the potential in their US business where they have much less brand awareness compared to the UK; there are some concerns from clients and investors that the company has not yet been through a recession as they look at an IPO; Funding Circle currently has 850 employees and last raised £82 million at a £990 million valuation. Source
Golden Bull operates a platform for loans secured by vehicles; the company plans to raise a total of $7 million offering 1.6 million shares; the company previously planned to offer 2 million shares at the same price between $4-$4.50 per share; Golden Bull was founded in 2015 and will list on the Nasdaq with ticker DNJR. Source
One of the quiet achievers in fintech is a company called GreenSky. They have flown under the radar for years...