FT Partners Advises GreenSky on its $50,000,000 Minority Investment
Overview of Transaction
- GreenSky has completed a minority $50 million financing round from Fifth Third Bancorp, bringing the total capital raised by FT Partners for GreenSky to $350 million
- GreenSky provides an online loan platform that allows businesses to offer flexible credit programs to their customers – promoting higher transaction values and driving sales growth
- Feature story in the Wall Street Journal highlighting this strategic fundraising and the $3.6 billion valuation ascribed to Greensky in this most recent round
Significance of Transaction
- In addition to the financing, GreenSky and Fifth Third announced a strategic agreement, which enables Fifth Third to originate loans and offer financing solutions to consumers through GreenSky's existing merchant network
- Fifth Third anticipates financing $2 billion in loans originated through GreenSky's system over time
- This transaction positions GreenSky to remain a leader in the Alternative Lending space and enables the company to continue to innovate and bring additional products to market
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to GreenSky and its Board of Directors
- FT Partners leveraged its deep knowledge, extensive experience and broad industry relationships to help achieve another highly favorable outcome for the Company
- This transaction demonstrates FT Partners' continued success advising top-tier financial technology companies
- FT Partners also advised GreenSky on its previous $300 million financing round from TPG, DST, Iconiq and Wellington Management in October 2014