RateSetter is reportedly in talks for a £30m fundraising round as it continues to gear up for an initial public offering (IPO).
The peer-to-peer lender is seeking to raise £30m through investment bank Lazard and stock broker Peel Hunt, according to a Sky News report.
This latest funding round was expected to value RateSetter at about £280m as it looks to join the London Stock Exchange.
RateSetter’s chief executive Rhydian Lewis confirmed last year that the P2P platform is eyeing an IPO as a pivotal step to solidify its position as an “investor brand”.
Read more: RateSetter hits £100m IFISA milestone
He also said the business and consumer lender would not expect or be interested in any takeover approaches from banks as it focuses on floating the business.
“We hope to list the business – as an investor brand, this would be natural step – but this is some way away,” Lewis said last year at an in-house event the firm organised for its investors.
“We don’t hope to sell the business to a bank, and we don’t think that banks would necessarily consider buying a major P2P business at present.”
RateSetter declined to comment on the Sky News report when contacted by Peer2Peer Finance News.