Home /

Staying private: The booming market for shares in the hottest start-ups

By Miles Kruppa
Financial Times·
11 mins to read

New exchanges aim to boost trade in promising businesses, but more regulation of an opaque sector may be needed.

In 2014, an Austrian entrepreneur offered investors a rare chance to purchase shares in Jumio, his fast-growing and profitable payments company. The deal was not a typical venture capital transaction. Instead of purchasing new shares, investors could buy out earlier shareholders, in what are known as private secondary transactions.

Daniel Mattes, who calls himself a "visionary" on his Instagram page and

Save