(Bloomberg) -- Online mortgage lender Better.com has tapped Morgan Stanley and Bank of America Corp. for a planned initial public offering in the U.S., according to people with knowledge of the matter.
Better.com intends to file for an IPO confidentially with the U.S. Securities and Exchange Commission as soon as January, said the people, who asked not to be identified because the information is private. The company will seek to top the $4 billion valuation it was given in its most recent funding round, they said.
The New York-based company is expected to have net revenue of more than $800 million this year, one of the people said.
The company's plans, including the timing of an IPO, could still change, the people said.
Representatives for Better.com, Morgan Stanley and Bank of America declined to comment.
Better.com raised about $200 million in a series D funding round led by private equity firm L Catterton, Bloomberg News reported this month. The company was valued in the round at $4 billion, people familiar with the matter have said.
Read more: Better.com Is Said to Raise $200 Million at $4 Billion Valuation
The company's investors include Goldman Sachs Group Inc., Citigroup Inc., American Express Co., Activant Capital, Ally Financial, Chinese insurer Ping An and 9Yards Capital.
Kevin Ryan, a former Morgan Stanley investment banker, was appointed chief financial officer of Better.com as of last month, according to Ryan's LinkedIn profile.
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