Innovative market and technology solutions suite to support private growth companies
March 3, 2022 – CrowdX, the electronic solution for issuing and trading securities in privately held businesses, has today announced the signing of a Memorandum of Understanding (MoU) with capital markets technology firm ScribeStar. With over five years of experience in the digital processing and transaction management of capital markets issuances, ScribeStar has a growing number of clients both in the UK and overseas.
Mike McCudden, CEO of CrowdX, commented: “Capital markets issuance is a complicated subject, but ScribeStar has developed a series of automated workflows, ensuring that companies can be guided through each of the necessary stages in a seamless manner. ScribeStar’s unique issuance, admission, and reporting technology will support us in achieving the vision of an efficient and cost-effective market for private growth companies. We are excited about our joint work. This approach enables formal market structures to be accessible to a far wider audience and I am confident that our collaboration will help us achieve our goals of streamlining access to a capital market for companies that may have otherwise found the process too daunting or cumbersome.”
The platform will allow companies, their advisers and external teams to follow an automated workflow which has been specifically tailored to CrowdX rules. They will also have the ability to work collaboratively on issuance, admission and ongoing compliance documentation within a secure digital space.
Srinivas Suravarapu, CEO of ScribeStar, added: “CrowdX is addressing a critical gap in the market with an innovative and exciting new market option for companies and investors. ScribeStar comes from a primarily public side of capital markets. Our platform has supported the digital preparation of close to 90 transactions, many of those being public listings and IPOs. We are delighted to be working with CrowdX on this project and to offer our technology and know-how to the private segment of capital markets. We believe CrowdX’s market will be a very attractive proposition for many companies looking for a high quality bespoke private market approach, and we look forward to being part of CrowdX’s future growth.”
CrowdX was founded to address the real-world challenges holding back the growth of scale-up companies in the UK.
Using the latest technology, CrowdX offers a low-cost, highly flexible solution for companies who are looking to consolidate their cap table, fund growth and provide investors with a realistic exit option.
CrowdX Limited (FRN 950991) is an appointed representative of Prosper Capital LLP (FRN 453007) which is authorised and regulated by the Financial Conduct Authority.
Further information for CrowdX:
Contact Tony Cross at:
+44 7973 284 749
ScribeStar is a digital toolbox which uses customised workflows to streamline the complex legal, regulatory, and administrative processes associated with issuing and maintaining securities, whilst creating structured financial and non-financial information in a machine-readable format. ScribeStar’s digital ecosystem provides complete project management for document production, review, and approval. By utilizing structured data our platform improves the efficiency of the entire process of raising capital and also allows the transfer of data seamlessly to exchanges, investors and other interested parties. This means that issuers can go to market faster, at lower risk, with reduced administration work for lawyers and regulators, and for lower cost than traditional methods.
ScribeStar’s key users are lawyers, issuers, regulators, exchanges and other professionals in capital markets.
ScribeStar is a member of London Stock Exchange Group’s Issuer Services Marketplace, part of the UK’s Tech Nation Fintech cohort, Barclays Eagle Labs and CMS equIP. Its customers include law firms such as CMS, Taylor Wessing and Travers Smith, amongst others. ScribeStar has produced documents for all sizes of deals ranging from small Aquis listings, through to AIM listings and premium listings on the LSE.
Further information for ScribeStar:
Contact Simon Barker at:
+44 7866 314 331