Deals
China Rapid Finance Said to Target U.S. IPO as Soon as 2017
- The peer-to-peer lender is aiming to raise about $100 million
- An IPO comes as regulators tighten scrutiny over the industry
China Rapid Finance Wants In on the IPO Action
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China Rapid Finance, a Shanghai-based peer-to-peer lender, is planning to raise at least $100 million in an initial public offering in the U.S., people familiar with the matter said.
The company, which raised $20 million at a pre-money valuation of $1 billion in November, could hold the IPO as soon as this year, the people said, asking not to be identified because the information is private. The money will be used to fund expansion in China, one of the people said. The company declined to comment in an e-mailed statement.