Gaining access to personal capital has become much harder over the past few decades. As lenders have continued to make it harder for people to get personal loans, less traditional lenders have helped to fill the void. One organization that has continued to provide a great financing solution to consider is GreenSky.
GreenSky is an online lender that provides capital for individuals borrowers and small businesses. The company started out as a great solution for people that are looking to create a home renovation or major repair and need access to liquidity. While it started small, the company today is one of the largest such lenders and can provide people with loans up to $55,000, which can be used for a variety of purposes to help improve their homes.
While GreenSky initially focused on providing capital to those that are looking to improve their homes, the organization has continued to find other ways to solve customer problems. Today, the organization is also a leader when it comes to providing creative financing solutions to small businesses. Small business owners can take out a loan to fund working capital, buy inventory, or expand their businesses.
While GreenSky has been a great option for businesses and consumers, it has also been very popular with investors. Over the past few years, the CEO of the company, David Zalik, has continued to raise more capital that has allowed the finance company to grow in size. David Zalik has raised more than $50 million over the past few years alone through a variety of private equity and venture capital investors. During this time, the company has been able to attain a valuation in excess of $1 billion.
David Zalik has proven that he is capable of raising capital from the private markets, but he is now looking for other ways to raise capital as well. Over the next few years he is considering raising an IPO and taking the company public. This will allow the company to gain access to far more capital than before, which will be used by the firm to invest in other product lines.