Lending IPOs Find Cautious Investors Amid Consumer Credit Fears

At a time when companies from almost any sector can successfully go public, one glaring exception is the consumer credit space.

China Rapid Finance Ltd. on Friday became just the second consumer lender this year to list in the U.S., following Elevate Credit Inc. earlier in April. Although they do business on opposite sides of the world, the duo has much in common: Both face investor questions about the reliability of their borrowers, both begin trading amid a particularly iffy time in the credit cycle and -- perhaps consequently -- both slashed their IPO price days before going public.