(Reuters) – Lendbuzz’s revenue surged 38% in the first half of 2025, the auto loans platform revealed in its U.S. initial public offering paperwork on Friday, as it became the latest financial technology firm set to hit the new listings market.
The Boston, Massachusetts-based company reported net income of $11.1 million on revenue of $172.9 million in the six months ended June 30, compared with net income of $5.6 million on revenue of $125.4 million a year earlier.
Fintech IPOs are starting to trickle back in numbers as investor appetite for high-growth tech stocks revives after a years-long slump.
Swedish buy-now, pay-later lender Klarna went public in New York earlier this week, ending the long wait for its stock market debut.
Analysts say Klarna’s aftermarket performance will serve as a bellwether for other fintech IPOs hoping to take advantage of the rebounding listings market.
Lendbuzz and some of its existing shareholders will sell shares in the offering.
The listing had been in the offing for some time, with Reuters reporting in 2023 that Lendbuzz had hired investment banks for an IPO.
Founded in 2015, Lendbuzz uses artificial intelligence to offer auto loans to people who lack credit history and have struggled to borrow funds from traditional banks.
The company, which partners with car dealers to offer auto loans to customers, was valued at nearly $1.1 billion in a 2023 funding round.
Lendbuzz’s major shareholders include venture capital firms 83North and OG Tech Ventures.
Goldman Sachs, J.P. Morgan, RBC Capital Markets and Mizuho are the lead underwriters for the offering. Lendbuzz will list on the Nasdaq under the symbol “LBZZ”.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shreya Biswas)
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