Hyderabad: Indian-origin serial entrepreneur Venkat Meenavalli led Longfin Corp has said that its stock has been listed on NASDAQ on December 13.
“We are the first Asian entrepreneur promoted Reg A+ company under the JOBS Act, to list its shares directly in NASDAQ and the second Indian entrepreneur promoted company to list directly in the NASDAQ since 2010,” said Mr Meenavalli, the company’s founder.
Longfin is a non-banking fintech company based in Delaware, US. It had floated an IPO of 10,000,000 shares of its Class A common stock on September 6 at $5 per share. It provides structured commodity trade finance, having revenues to the tune of $27.7 million in 2016.
It provides forex and financial solutions to SMEs in trade finance across North America, Middle East, and Asia Pacific regions. According to the firm, most SMEs fail to access cheaper trade finance from banks and therefore look at fintech companies to finance them.
India Tribune, as an English weekly newspaper, was launched in 1977 in Chicago by its publisher Prashant Shah with a lofty ideal to serve the Asian Indian community in the USA. Over the years, it has grown with all vigor, and now it is being published in three editions – Chicago, New York and Atlanta. India Tribune, a journal of its kind for the family in the USA, has been a household name for many Indians for over three decades with each issue commanding a readership of over 125,000.
