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Technology Stocks : Fintech
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To: Kirk © who wrote (18)12/10/2014 12:59:29 PM
From: Glenn Petersen  Read Replies (1) of 247
 
The S-1 describes their competition on the lending side as "traditional financial institutions, such as banks, credit unions, credit card issuers and other consumer finance companies." Unfortunately, the S-1 does not include any disclosures on credit spreads. My sense is that they are at a midpoint between the traditional banks and credit cards.

According to the article that Julian posted in the preceding post, the "median return for investors on the platform is 8.3%."

Based on a review of their financial history to date, their origination fees average about 4%. Unfortunately, there is not enough history to get a feel for what they will be generating from servicing fees.

I expect this to be a hot IPO. I hope for their sake that they have enough clout with their underwriters so that the IPO gets priced properly and they don't leave too much on the table.
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