Lendbuzz, an auto loans platform, is set to become the latest financial technology firm to enter the new listings market. The company announced in its U.S. initial public offering (IPO) paperwork on Friday that its revenue surged by 38% in the first half of 2025. The Boston-based company reported a net income of $11.1 million on revenue of $172.9 million for the six months ending on June 30, a significant increase from its net income of $5.6 million on revenue of $125.4 million a year earlier.
This move comes as fintech IPOs are making a comeback, with investor interest in high-growth tech stocks reviving after a years-long slump. Earlier this week, Swedish “buy-now, pay-later” lender Klarna went public in New York, and analysts believe its performance will serve as a key indicator for other fintech companies hoping to capitalize on the rebounding market.
Lendbuzz and some of its current shareholders will sell shares in the offering. The company’s plans for a public listing have been in the works for a while, 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 individuals who lack a credit history and have had difficulty borrowing from traditional banks. The company partners with car dealers to provide these loans and was valued at nearly $1.1 billion in a 2023 funding round.
Major shareholders of Lendbuzz include the 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 be listed on the Nasdaq under the ticker symbol “LBZZ”.
