GreenSky Credit is a company in the financial technology or fintech industry. This company was founded in 2006. Throughout the company’s history, they’ve worked with mostly merchants and banks. In turn, these merchants and banks have been able to create loans for consumers.
What Sets GreenSky Credit Apart from Others?
What makes GreenSky Credit different from many lenders is that they don’t use their own capital. Instead, this company partners with a network of 14 separate banks. In turn, GreenSky is able to provide program loans to merchants in their network of clients. GreenSky also allows businesses to offer credit to their customers, helping to increase company growth rates faster than normal. Currently, GreenSky partners with a select few types of companies. These industries include furniture, home improvement, and medical providers.
The Immense Value of This Company
On GreenSky’s Wikipedia page, there’s a link connected to a recent article from Bloomberg. In this article, it’s mentioned that GreenSky currently has a valuation of $3.6 billion. On May 14th, GreenSky officially launched its IPO or initial public offering. In other words, GreenSky stock recently became public. The company was able to offer 34.09 million shares. In addition, the price per share stayed within the $21-$23 range.
The Future Looks Bright for GreenSky Credit
Many newer companies have a hard time establishing a customer base. This isn’t a problem for GreenSky Credit. According to their official website, they currently have a network of over 13,000 merchants. One notable client is Home Depot, one of the largest home improvement chain stores in the United States. In addition, GreenSky has already served nearly 2 million customers.
To summarize, GreenSky is certainly a leader within the financial technology industry. This company set out with a simple goal in mind which was to make obtaining loans easier. Many people and companies often have a hard time receiving loans through standard processes. Fortunately, GreenSky is continuing to improve how the fintech industry operates.