Credible, a San Francisco, CA-based consumer finance marketplace for millennials, raised $50m (A$67 million) in an initial public offering on the Australian Securities Exchange (ASX).
The offering will allow the company to accelerate development of its technology platform, deepen its partnerships with financial institutions, and grow its customer base.
Led by CEO Stephen Dash and chairman Ron Suber, Credible.com is a multi-lender marketplace that provides instant, personalized rates for student loans and student loan refinancing, as well as personal loans and credit cards.
Integrations with lenders and credit bureaus allow consumers to access real rates through the platform, without sharing their information until they’re ready to proceed with an offer.
To date, approximately 665,000 consumers have created accounts, to evaluate their options and take out more than $1 billion in loans.