SAN FRANCISCO, CA, Secfi has raised a $6M Series A led by Rucker Park Capital.
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Secfi, the company making it possible for individuals at private companies to receive financing on their shareholding, has raised a $6M Series A.
Through its technology-driven platform, Secfi provides financing to shareholders of late-stage private companies without them having to sell their shares. Secfi's customers receive multiple benefits: they receive capital to exercise stock options, they acquire liquidity for major life events, and they gain comfort around the value of their shareholdings as they await a liquidity event such as an IPO. Since launching its platform in January 2018, Secfi has deployed $150M worth of option exercises and shareholder financing.
Secfi intends to use its Series A to further expand its product offering into what its Founder and CEO, Wouter Witvoet, calls Pre-wealth Management. "By interacting with so many individuals over the past year, we've grown to realize that most do not have access to the right advice on what to do with their stock options or shares," said Wouter. "Secfi is building technology to give the insight people need to make better financial decisions on what to do when it comes to start-up equity, which can often be the majority of their net worth."
In addition to serving individuals, Secfi aims to work with companies to help their employees and shareholders with financing solutions. Wouter adds: "Companies want to help their shareholders and employees but often need to navigate tax and administrative challenges. Secfi's financing product is designed to help solve these issues for companies, enabling employers to attract and retain talent effectively."
The financing round was led by Rucker Park Capital, with participation from Social Leverage (who led Secfi's Seed round), Serengeti Asset Management, Weekend Fund, Mark Pincus, Elefund, FJLabs, Mike Gupta (former CFO Docker and CFO Plenty), Jake Gibson (founder Nerdwallet), and Brian Norgard (former CPO Tinder).
"Wouter and the Secfi team represent a rare blend of technology-first product and top-tier financial sophistication," said Wes Tang-Wymer, General Partner at Rucker Park Capital and now also member of Secfi's board of directors. "By maniacally focusing on its customers' needs, Secfi is well-positioned to become the trusted partner to help individuals navigate the complex path towards financial security."
Secfi creates equity planning tools that are designed to help private company employees and shareholders make better financial decisions for their equity from offer to IPO. Secfi provides financing to help shareholders with liquidity, as well as technology products that help employees make the most of their equity. By simplifying their equity compensation, Secfi believes employees can spend more time on things they love doing most.