SecFi Raises $550mn from Hedge Fund

Stock option financing startup SecFi has raised $550mn from Serengeti Asset Management; SecFi is a platform that allows workers to cash out without waiting for their companies to go public; the company uses forward purchase agreements to supply employees with cash in exchange for proceeds from future share sales; “Companies are staying private longer, and the traditional financial outlets just haven’t caught up yet,” SecFi CEO Wouter Witvoet said to the FT; the company makes money by charging between 7 and 12 percent on top of the portion of share proceeds; they are part of a growing ecosystem to cater to startup employees of fast growing startups who use various stock options as compensation. Financial Times

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