US fintech firm Lendbuzz is reportedly close to dropping its planned Nasdaq initial public offering (IPO) in favor of a listing on the Tel Aviv Stock Exchange (TASE) after investors signaled its targeted US$1.5 billion valuation would be hard to support.

The Boston-based vehicle financing platform, founded by Israeli entrepreneurs, filed a prospectus for a Nasdaq IPO in September 2025 and held an investor roadshow.

According to the report, its legal advisers are preparing a Hebrew-language prospectus with updated financial results, and a Tel Aviv listing could take place within months if the plan moves forward.

The company reported first-half 2025 revenue of US$173 million and net profit of US$11.1 million, though market participants said Israeli investors may value Lendbuzz at about US$1 billion or less.

Lendbuzz targets auto-loan borrowers underserved by traditional banks, including people with limited credit histories, and underwrites loans using alternative data.

The Tel Aviv Stock Exchange has worked to attract tech issuers, and Israeli fintech firms have listed there in recent years.

The switch would come as the US IPO market remains selective, with PwC saying investors still favor companies with scale, durable growth, and a credible path to profitability.

🔗 Source: Calcalist