💨 Abstract

SoFi, a Californian fintech giant, is partnering with PrimaryBid Technologies to expand its initial public offering (IPO) share placement business. The new directed share platform aims to make it easier for companies to allocate a portion of their IPO to employees, customers, and individual investors. The technology will allow companies to efficiently raise more capital at the IPO stage. The collaboration is another example of fintechs challenging traditional financial firms in the IPO market.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖