Global law firm DLA Piper has advised US fintech company Credible Labs Inc on its AU$300 million initial public offering (IPO) and listing on the ASX – the largest tech IPO of the year.
Founded in 2012 by Australian entrepreneur Stephen Dash, San Francisco-based Credible owns and operates an online marketplace that allows borrowers to compare real-time loan offers from lenders.
The DLA Piper team was led by Head of Corporate Sydney David Ryan, and Equity Capital Markets (ECM) specialist partner Catherine Merity, with support from senior associate Kelly Morrison, solicitor Olivia Wild and Jessica Noakesmith.
After launching with student loan refinancing, Credible has since expanded to student loan origination and personal loans.
David Ryan said: "Built from the ground up just five years ago by Stephen and his team, Credible has pioneered an approach that empowers their customers to make better financial decisions. As a US issuer undertaking the largest tech IPO of 2017 in this market, this transaction builds on DLA Piper's strong cross-border fintech ECM credentials, and we're very excited to be part of this next phase of Credible's impressive growth."
Catherine Merity said: "We're delighted to partner with Credible on this important milestone. The proceeds raised will help fund Credible's further growth, including technology and platform development, and marketing."
Bell Potter Securities Limited acted as the lead manager and underwriter.