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Business Management Review | Monday, May 30, 2022
The newly raised $550 million will be employed to power Secfi's business development to help executives, employees, and shareholders preserve and diversify their wealth.
Secfi, the early pre-wealth management platform, secured a $550 million investment facility from Serengeti Asset Management. The wealth management platform supports startup employees navigate financial decisions from offer to IPO. In addition, the newly raised $550 million will power Secfi's business development to help executives, employees, and shareholders preserve and diversify their wealth.
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Serengeti Asset Management, the New York-founded investment firm, is an initial stage venture investor. It is also broadening its decade-long credit franchise into selecting, underwriting, and investing in leading private technology companies through stock financings.
"We are building technology which helps demystify the often opaque world of equity compensation," said Secfi Founder & CEO Wouter Witvoet. "Making well informed financial decisions is crucial in maximizing equity compensation -- we are honored to empower shareholders with the education and financing required to build wealth for the future."
Secfi provides an integrated suite of personalized advisory, educational market and financing tools that compare various strategies for implementing the options. These tools include equity intelligence dashboards, tax modeling, exit forecasting, and exercise reporting. Moreover, Secfi also provides shareholders with the financial solutions needed to unlock liquidity from their shares. This enables private company employees to get the most out of their stock options.
"We're thrilled to associate with Jody LaNasa, Serengeti's founder," said Witvoet. "His years of experience leading credit and underwriting teams at Goldman Sachs and Serengeti will be invaluable as we scale our financing products. With their backing, we consider we can build the leading platform to serve a growing market in need of innovation and liquidity."
Secfi's customized approach pairs clients with internal advisors who help shareholders navigate difficult financial decisions and optimize their equity positions to maximize their wealth. The company's exercise financing platform covers the exercise costs and taxes and limits personal risk, allowing clients to participate in their employer's success without risking their savings. In addition, until IPO or a liquidity event, clients are not required to pay anything.
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