Credible Labs Inc and BDO
21 December 2017
Credible Labs Inc (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
Initial public offering for Credible Labs Inc
Market Capitalisation at listing was $307m
In August 2017, BDO was engaged to assist the Board of Directors through the initial public offering process, including:
- Preparation of the independent limited assurance report
- Review of the prospectus financial information
- Review of forecast financial information
- Review of accounting policies
- Tax report to the Due Diligence Committee
- Review of the 30 June 2017 half-year accounts.
“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.
The BDO difference
It was BDO's experience as a leading provider of initial public offering services over the last 12 years, coupled with our extensive technology industry expertise, which meant we were perfectly placed to assist Credible Labs Inc successfully list on the Australian Securities Exchange.
This is just one of many successful outcomes for the BDO team. Our emphasis on building strong client relationships as well as our extensive knowledge in a broad range of industries mean we are well-placed to provide a full transaction service to our clients. Contact us today to find out more.