LoanDepot to be Lending’s Next IPO?October 9, 2015 | By: Sean Murray
loanDepot, which describes itself as a leading technology-enabled U.S. consumer lending platform, has publicly filed their S-1 registration form. Originating more than $50 billion worth of loans since 2010, that makes them the nation’s second largest direct-to-consumer non-bank originator. Their products range from home loans to unsecured personal loans.
The filing states they seek to raise $100 million, however that number might be revised upward. For loanDepot’s CEO Anthony Hsieh, this is business as usual. According to Crunchbase, he founded LoansDirect.com in 1994 and merged with ETRADE Financial in 2001 to create ETRADE Mortgage. His next company, Home Loan Center, Inc., merged with Lending Tree.
loanDepot is a natural succession to similar businesses he’s built over the past 20 years.October 9, 2015
Sean Murray is the founder of deBanked, a 10-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.