Consumer finance company Credit Sesame is considering IPO in US – sources

By David French and Anirban Sen

June 15 (Reuters)Credit Sesame plans to file an initial public offering in the United States that could value the financial services and credit checking provider at more than $ 2 billion, according to people familiar with the matter.

The San Francisco-based company is working with investment banks, including Goldman Sachs Group Inc, on its proposed New York listing later this year, according to the sources, who warned that the timing and valuation of the IPO were subject to market conditions.

The sources spoke on condition of anonymity to discuss confidential information.

“We remain open to any outcome that allows us to continue our mission of bringing financial well-being and stability to all consumers,” Credit Sesame said in a statement, declining to comment specifically on a possible IPO.

Goldman Sachs declined to comment.

Some fintech companies such as Credit Sesame have seen their business explode during the COVID-19 pandemic, as more people bank online.

Credit Sesame was launched in 2011 providing consumers with free access to their credit scores, and then expanded to recommend financial products. Last year, it launched an online banking service that rewards cash users for improving their credit score.

The company announced last week that it had raised $ 51 million from private investors, including the Healthcare of Ontario Pension Plan (HOOPP), Menlo Ventures and ATW Partners. He said he would use the capital to fund his expansion plans.

Rival personal finance advice provider NerdWallet has confidentially filed documents for its own U.S. IPO, sources told Reuters last month.

(Reporting by David French in New York and Anirban Sen in Bengaluru; editing by Jonathan Oatis)

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