Secfi, which provides shareholders with equity planning tools to improve financial decisions, has bagged $6m in its Series A.
Rucker Park Capital led the round, with participation also coming from Social Leverage, Serengeti Asset Management, Weekend Fund, Elefund, and FJLabs. Several angel investors also took part including former CFO of Mike Gupta, Nerdwallet founder Jake Gibson and former Tinder CPO Brian Norgard.
Capital from the round will be used to expand its product offering.
Secfi provides financing to shareholders of late-stage private companies without them having to sell their shares. Customers can access capital to exercise stock options, receive liquidity for major life events, and access the value of shareholdings while waiting for the IPO.
Financing options let the shareholder seek an advance of 33 – 50 per cent of their equity value which will only be paid back once the company goes public of the shareholder sells. In addition to financing, clients can use tax forecasting tools to make better financial decisions and compare strategies.
Secfi founder and CEO Wouter Witvoet said, “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.
“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.”
As part of the deal, Rucker Park Capital general partner Wes Tang-Wymer will join the board of directors.
Last year, the company raised a $1m investment from investors including Social Leverage, FJLabs, and CoVenture.
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