Fintech VC Ribbit Capital is planning a $600mn special purpose acquisition company (SPAC) to target fintech businesses; the SPAC could...
Recent news about Chinese online lenders has caused regulators in China to begin looking at new regulations for the industry; “The public has doubts about its operating model and has appealed for it to be brought under regulation,” said Ji Zhihong, head of financial markets department at the People’s Bank of China, according to the FT; the potential regulations could hurt what has become a hot IPO market; Chinese lenders like Qudian who recently did a US based IPO and Paipaidai, Hexindai and Lexin Fintech who all have filed for potential US IPOs. Source.
Credit Karma is seen as one of the hottest fintech startups in the world and a potential 2020 IPO candidate;...
UK based Funding Circle recently signaled they were looking to go public this year and now investors are wondering is this the start of a UK fintech IPO trend; rumors have swirled around Zopa, LendInvest, Monzo and others, but thus far not many have gone forward with a listing; there is concerns over the ability of the businesses to make a profit and have lessons been learned from U.S. fintech IPOs; while there has been a few small listing thus far time will tell whether or not the big fintech firms will make the leap. Source.
Monzo CEO Tom Blomfield sat down with Reuters to talk about the progress the digital bank has made and the...
UK based Arrowgrass will offer investors fintech exposure through a new vehicle listed on the AIM Market; the $97mn IPO named TruFin, is the first time investors will have access to one of the country’s p2p platforms in Zopa; “Listing on AIM will allow us to provide further capital to our subsidiaries and scale faster, and take advantage of any developments in the current financial services market,” said Henry Kenner, chief executive officer of TruFin plc, to AltFi. Source.
The largest mortgage lender in the U.S. has confidentially filed for an IPO according to CNBC; the report indicates the...
Decreased venture capital funding and fintech challenges in 2016 slowed the market for initial public offerings (IPOs); experts believe the IPO market could be revived in 2017 with four companies at the top of the list to watch for a potential public offering; companies include Transferwise, SoFi, Ant Financial and Credit Karma; all four companies have significant venture capital support and are likely leaders for the fintech IPO market in 2017. Source
Jianpu Technology, a subsidiary of Rong360, has filed for a $200mn IPO in the US; Goldman Sachs, Morgan Stanley and JP Morgan are bookrunners for the deal; Jianpu is an open recommendation platform for loan and credit card applications; the company has seen revenue jump 112 percent from 2015 to 2016 and thus far in the first six months of 2017 revenue has jumped 170 percent year on year. Source.
Tandem Bank released an update saying an IPO was in their plans over the next few years as they focus...