IPO Blend

The digital banking platform Blend simplifies the process of issuing loans, credit cards, mortgages, etc., helping financial organizations to interact with customers in a more efficient way. Estimated allotment is up to 10%. The risk is medium. Estimated return on investment is medium, up to 80% per annum. You can apply for this investment until July 14th, 19:00, UTC +3.

Blend operates at the crossroads of two banking industry trends. These are the growth of consumer lending, fueled by low interest rates, and the digitalization of banking, accelerated by the pandemic. Thus, in 2020, the use of mobile banking increased by 30%.

Traditional banks are extremely clumsy when it comes to innovations. Blend has developed a flexible and scalable platform that helps them quickly adapt to a new digital reality.

During the IPO, the company plans to allocate 20 million shares at $16–18 and raise $360 million. In 2020, Blend's revenue increased by 90% and reached $96 million. The gross margin in 2019–2020 was at the level of 60%. The P/S ratio for the IPO will be 31x. According to our forecasts, the IPO Blend will be valued at $5.1 billion. The expected yield is medium — up to 80% per annum.