Indian promoted fintech company gets listed on NASDAQ

Longfin is a non-banking fintech company providing structured commodity trade finance, having revenues to the tune of $27.7 mn in 2016

US-based global fintech company Longfin Corp., founded by Indian entrepreneur Venkata S Meenavalli, started trading on NASDAQ from Wednesday with a market capitalisation of $360 million.

"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," Meenavalli said in a statement.

Longfin is a non-banking fintech company providing structured commodity trade finance, having revenues to the tune of $27.7 million in 2016. 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-sized importers and exporters across the globe.

It has its geographical presence across North America, West Asia and Asia Pacific regions.