New York City, NY, Nov. 20, 2017 (GLOBE NEWSWIRE) -- LongFin Corp., a Global Fintech company providing Finance and FX hedging solutions to importers/exporters and SMEs powered by Artificial Intelligence (AI) and Machine Learning, is offering Class A Shares of its common stock at $5.00 per share.
LongFin’s Low Latency Network is connected to multiple exchanges and banks across the regions to provide the cheapest Forex hedging and Low-cost Financing to small and medium-size importers/exporters across the globe.
Network 1 Financial Securities Inc. is acting as the lead underwriter. Network 1 Financial Securities, Inc. was the lead underwriter for Hexindai, Inc. IPO (HX) a Chinese FinTech company and also acted as an underwriter for China Internet Nationwide financial services IPO (“CIFS”).
The Global Trade Finance gap has reached $1.6 Trillion; SMEs Hardest Hit- Asian Development Bank, The Survey notes that small and medium-sized enterprises (SMEs) face the greatest obstacles in accessing affordable trade financing. Globally, 57% of trade finance requests by SMEs are rejected. High rejection rates lead many firms to turn to FinTech companies that can help to bridge the financing gap.
Longfin Founder Venkata S. Meenavalli says, “We are one of the few FinTech Companies supporting Trade finance solutions, all the way from forex hedging to financing. With demand outpacing the supply side, we see great velocity in rotating capital 25 to 50 times a year and we are confident in achieving Return on Capital Employed (ROCE) 50 to 100% per annum.
LongFin’s IPO is anticipating that it will begin trading at the beginning of December , 2017.
About LongFin
In 2016, Longfin grew its revenues to $27.7 million with an EBIT of $6 million. Furthermore, the company increased its geographical presence to provide FX and financial solutions to SMEs in trade finance across North America, Middle East, and Asia Pacific.
LongFin Artificial Intelligence(AI) and Machine Learning powered global network connected to multiple ECNs, Banks, and Exchanges providing the cheapest Forex hedging solutions to SMEs across the globe.
By expanding geographically, the company leads the Trade Finance FinTech sector, offering clients unprecedented distribution access to the nuances of the local financial markets and a gateway to the global markets. Learn more at www.longfincorp.com.