Blend Labs Inc. included in the Global Technologies Private Portfolio has officially filed an IPO application with the US Securities and Exchange Commission (SEC). The company did it privately back in April, now the application is publicly submitted.
The company intends to go public on the NYSE under the ticker BLND. The price range and the number of shares have not yet been estimated. The lead underwriters of the placement are going to be Goldman Sachs & Co. LLC, Allen & Company LLC, and Wells Fargo Securities.
Blend Labs is a fintech company that is transforming the $14 trillion US consumer lending market. In 2020, the platform processed over 1.4 trillion mortgage loans (twice the amount of 2019).
Blend accounts for 30% of the US mortgage market, and more than 1 million people have received mortgages through the platform.
Blend Labs has 285+ customers include Wells Fargo, U.S. Bank, M&T Bank, SWBC, Navy Federal Credit Union. Forbes magazine has included Blend in the list of “50 Most Innovative Fintech Companies 2021”.