Located in Atlanta, Georgia, GreenSky Credit is a growing financial technology company, according to Wikipedia. The company was established in 2006. Between 2012 through 2016, approximately $5 billion was lent to consumers via the company’s lending program and technology.
GreenSky Credit: Financial Technology for Banks and Merchants
At the heart of GreenSky Credit’s services is providing technology to aid banks and merchants in lending to consumers for targeted expenditures. These include home improvement, solar, elective healthcare and other purchases.
The home GreenSky Credit mobile app allows consumers to seek financing for specific purchases from a wide array of merchants. Indeed, at the present time, approximately 12,000 merchants of different types are connected to the company’s lending technology. These merchants includes retailers of different types, including Home Depot, to numerous contractors.
At the present time, the firm has over 1,000 employees. As with so many things associated with GreenSky, its workforce has been increasing in number with each passing year. The company is headed up by its co-founder, David Zalik. Zalik holds the title of chief executive officer. Gerry Benjamin is the vice chairman of the enterprise. Tim Kaliban is the president of GreenSky. The management team gets high marks from financial publications like Forbes.
Capitalization and Valuation of GreenSky Credit
By 2016, the CEO of the company announced that the enterprise was profitable. A valuation of the company occurred in 2016. According to the Wall Street Journal, the valuation placed GreenSky Credit on the list of the most valuable privately-held financial technology startup enterprises in the United States.
In May 2018, the company set its IPO terms. The established IPO terms were 34.09 million shares at between $21 and $23.
GreenSky Technology Remakes the Lending Scene
GreenSky truly is tacking a leadership role when it comes to lending in the United States. The firm joins other companies in taking on traditional lending structures in the country. Although firms like Greensky are only a small percentage of overall lending in the country, that percentage edges upward with each passing year. This is a trend that is expected to continue into the future.