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Summary
- Solar loans provider Loanpal is said to be on the path to launch an initial public offering (IPO) this year, reported sources close to the matter.
- Founded in 2003 by entrepreneurs Hayes Barnard, Jason Walker and Matt Dawson, Loanpal is known to provide financing services to the residential solar industry in the US.
- The company is based in the Californian city of Roseville and is owned by parent enterprise Paramount GR Holding.
Solar loans provider Loanpal, LLC is said to be on the path to launch an initial public offering (IPO) this year, reported sources close to the matter. According to media reports, the IPO could bring the finance technology company’s value at more than US$ 10 billion.
Founded in 2003 by entrepreneurs Hayes Barnard, Jason Walker and Matt Dawson, Loanpal is known to provide financing services to the residential solar industry in the US. The company is based in the Californian city of Roseville and is owned by parent enterprise Paramount GR Holding.
Let’s dive in to find what we know about Loanpal’s IPO so far.
Loanpal, LLC IPO – What We Know?
Loanpal is said to be currently in talks with financial advisers such as Goldman Sachs Group Inc about a listing, although neither of the two companies have put out any confirmation on the matter. The California-based company, however, has in the past worked with Goldman Sachs as well as Blackstone Group Inc.
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Reports quoting sources also noted that the IPO is likely to take place sometime this year.
Speculation about Loanpal’s IPO comes less than three months after the reports of fellow home solar loans provider Sunlight Financial LLC’s public listing made headlines. Sunlight Financial announced in January this year that it plans to merge with a special purpose acquisition company (SPAC) in a deal likely to close in June.
Loanpal had raised a capital of about US$ 800 million from lead investors New Enterprise Associates and WestCap Group is a secondary market financing in January this year.
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The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
