A dive into the US mortgage market could be a Credible move for this ASX fintech

Its latest earnings may have fallen short, but student loan comparison site Credible Labs still has fans as it pushes hard to ramp up its new mortgage loan business.

Credible (ASX:CRD) — founded in San Francisco five years ago by Australian investment banker Stephen Dash — hit the ASX late last year, issuing shares at $1.21.

Of the $50 million raised through its IPO, $15 million was taken out by the company’s original backers.

The bulk of the money, some $31 million, was earmarked to spend developing its platform which targets US consumers.

Even though its existing business is centred on student loan refinancing, investors are much more interested in its ambition to move into the mortgage loan market, which is a multiple of the size of the student loan market.

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Source: A dive into the US mortgage market could be a Credible move for this ASX fintech – Stockhead