Private equity-backed online consumer credit platform Smava is reportedly being prepared for a sale or IPO which could see it valued at up to $500m.
Vitruvian Partners, which only bought into Smava through a $65m investment in January last year, has asked investment banks to pitch for roles in a potential sale or public listing according to Reuters, which cited unnamed people it said were close to the matter.
Smava has received $135m of backing since it was launched in 2007, from investors including Verdane Capital, Runa Capital and Earlybird.
The company operates one of Germany’s biggest online loan portals, allowing customers to apply to borrow between €500 and €120,000.
Smava originated about $1.5bn of loans in 2017.
Last month business lending and secure finances startup Divvy sealed a $250m funding facility from Waterfall Asset Management to help it keep up with expected growth in 2019.
Fellow FinTech outfit PayJoy, which provides credit to the underbanked, pulled in a $20m debt financing last November.
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