(Reuters) – Blend Labs Inc, a digital platform for lenders to offer mortgage and consumer loans, said on Monday it aimed to raise up to $100 million in its U.S. initial public offering and list on the New York Stock Exchange.<\/p>\n
The San Francisco-based company had confidentially filed for a listing in April and was valued at $3.3 billion after a funding round in January, according to media reports.<\/p>\n
Blend Labs on average processes more than $5 billion in transactions per day, its website showed, and counts Wells Fargo & Co and Lennar Mortgage as some of its customers.<\/p>\n
The company said its revenue last year jumped 90% to $96 million, driven by the pandemic-led shift to digital banking services.<\/p>\n
Fintechs are fast becoming a force to reckon with, even for longstanding traditional financial institutions. Brazilian digital bank Nubank is also weighing a U.S. IPO that could value it over $40 billion, Reuters reported on Monday.<\/p>\n
Blend\u2019s IPO is being underwritten by a syndicate of banks led by Goldman Sachs & Co, Allen & Company and Wells Fargo Securities. The company\u2019s shares will be listed on the NYSE under the symbol \u201cBLND\u201d.<\/p>\n