As GreenSky considers IPO, Zalik answers critics

The fintech industry as a whole has seen some shaky performance over the last few years. But one of its constituent businesses, GreenSky Credit, has continued to outperform even the wildest expectations of its most fervent proponents.


The company has grown at a feverish rate over the last decade, proving that its idiosyncratic yet highly effective business model has what it takes to last in one of the most competitive industries on Earth. Now, the company is rumored to be seriously considering going public. But there are still many critics who question the timing and the ability of GreenSky to continue posting such extraordinary numbers under the pressures that every public company is necessarily subject to. However, the company’s founder, David Zalik, is confident that his firm will be able to smoothly make the transition to a publicly traded company.

Turnkey operation with a rock-solid business model

Zalik points to GreenSky Credit’s stunning performance as the first piece of evidence that it will be able to make the transition to a public firm without a hitch. The company has been able to successfully expand into a wide variety of different industries over the last few years. And it has done this while barely tweaking its business model at all.

It turns out that GreenSky has such a brilliant and adaptable model that it can be put to use in almost any industry where big-ticket sales often result in the need for consumer financing. And this business has proven to be so frictionless and well-designed that many analysts characterize it as an essentially turnkey operation. This means that even under the most perverse pressures to meet quarterly guidance, a public GreenSky should be able to come out ahead.

This leaves the question of how much the company could potentially raise in an IPO. If the markets are doing well at the time that the firm decides to go public, some analysts say that a total market capitalization of $10 billion or more is fully possible. This would make GreenSky among the largest fintech companies in the world.