Initial Public Offering for Credible Labs Inc (USA)
Deal TypeCapital Markets
IndustryFinancial and Insurance Services
ClientCredible Labs Inc
Credible (ASX:CRD) is a San Francisco based company which operates a consumer finance marketplace giving consumers access to student loans, personal loans and credit cards.
Credible has developed a proprietary technology platform, that is integrated with credit bureaus and financial institutions, that enables consumers to instantly compare pre-qualified from multiple lenders and card issuers.
Prior to listing on the ASX, Credible received significant investment from Australian investors, including Regal Funds Management and Carthona Capital. Funds raised through the IPO will assist with:
- Further developing the technology platform
- Growing its customer base
- Funding working capital requirements.
Credible engaged BDO as Independent Financial Accountant, Independent Tax Advisor as well as Auditor. Market Capitalisation at listing was $307m.
“The Board of Credible Labs Inc. engaged BDO as independent accountants, tax advisers and auditors for the company’s listing on the Australian Securities Exchange. Our BDO engagement team played an integral role in Credible meeting an ambitious deadline for IPO.
BDO provided us with strong technical expertise and worked professionally with our finance team and other advisers to deliver a quick turn-around and successful IPO for Credible.”
Stephen Dash, Founder & CEO, Credible Labs Inc