But with interest rates at their highest levels since the global financial crisis, apps with huge exposure to subprime borrowers have attracted investor scrutiny, making it tough for such startups to justify higher valuations.
They, however, said there were companies in the sector with the scale and cash flow for whom individual circumstances would determine whether to push forward with their IPO plans or opt for a wait-and-see approach. "The IPO market is not closed, but it's certainly more valuation and profitability focused," said David Ethridge, U.S. co-IPO leader at global consulting giant PwC.
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