Credible, the consumer finance marketplace that empowers millennials to make smarter financial decisions, has raised $50 million (A$67 million) in an initial public offering on the Australian Securities Exchange (ASX). The offering — the largest tech IPO on the ASX this year — will allow Credible to accelerate development of the company’s technology platform, deepen its partnerships with financial institutions, and grow its customer base.
Credible, which is targeting the $13 trillion U.S. consumer finance market, chose a listing on the ASX to fund the company’s next phase of growth because it will provide more flexibility to pursue new opportunities, said CEO Stephen Dash.
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