Source: Business Insider
Thinking about an IPO down the line, small business lender Fundbox just hired its first CFO, growth investor Marten Abrahamsen, to get the company ready. Fundbox lends to small businesses in the US, and also offers a product to streamline net terms agreements. An IPO won’t happen in the next 12 or 18 months, Abrahamsen said, but getting the company ready for a listing is certainly part of the plan, he said. In the near-term, Abrahamsen will focus on evaluating where the company is spending on its growth, and making sure investments are going to the right parts of the business. Abrahamsen thinks Fundbox is well positioned to manage through a possible economic downturn, as there may be more demand for short-term credit. Click here for more BI Prime stories . It’s not easy to take a company public. And 2019 showed us just how unforgiving the public markets can be for startups. Uber’s stock is down about 17% since its May listing, and Lemonade delayed its 2019 IPO plans amidst WeWork’s failed attempt at a debut .