LexinFintech Holdings, an online provider of installment-based loans to young Chinese consumers, filed on Monday with the SEC to raise up to $500 million in an initial public offering.
Formerly Fenqile, Lexin had 3.3 million active customers during the nine months ended September 30, 2017, up 34% from the prior year period.
The Shenzhen, China-based company was founded in 2013 and booked $810 million in revenue for the 12 months ended September 30, 2017. LexinFintech Holdings filed confidentially on July 18, 2017. It plans to list on the Nasdaq under the symbol LX. Goldman Sachs (Asia), BofA Merrill Lynch, Deutsche Bank and China Renaissance are the joint bookrunners on the deal. No pricing terms were disclosed.
