GreenSky Credit considers what could be largest fintech IPO this year

GreenSky Credit has become one of the most well-established companies within the fintech space. The company was founded in 2006 by career entrepreneur David Zalik. Zalik had the idea for GreenSky when he was working with a number of the largest players in the home improvement space. He found an area where the industry’s business model was failing to close billions of dollars each year in additional sales.

He developed a technological interface that instantly connected qualified borrowers with some of the top lenders in the country. This enabled the additions of billions of dollars per year to the home improvement economy and almost instantly propelled GreenSky into the upper echelons of the fintech industry.

 

A good candidate for an IPO

Within three years, the company was doing hundreds of millions of dollars in loans each year. Over the last decade, GreenSky has roundly proven itself as a stable and viable means of generating billions of dollars of new loans. The company has reached a state of maturity that may make it an ideal candidate for going public.

Going public has a number of large advantages. It greatly increases transparency and liquidity, ensuring that all stakeholders get a fair shake while also providing the company with the capital it needs to continue expanding. While GreenSky Credit’s current value has been estimated to be around $5 billion, many analysts are predicting that the company’s value as a public firm could skyrocket to as much as $10 billion as almost all public companies trade at a premium to their private equivalents.

This would make the company one of the biggest fintech companies in the United States and would mark an incredible ascent for a company that had been financed and started completed by one man. But whether or not the company will ultimately pull the trigger on its IPO may be largely dependent on the whims of the market. With recent downturns, including in the fintech sector, it may be impossible for the company to follow through. Regardless, the chance of GreenSky eventually going public is high.

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