Capital markets digital ecosystem innovator ScribeStar completes £1 million fund raise on Crowdcube
Raises £865,000 on Crowdcube, nearly 75% more than target £500,000
London, March 23rd, 2021
ScribeStar, a digital ecosystem that improves the efficiency and reduces the cost and time required for document production for capital markets transactions, is pleased to announce the completion of its latest funding round having raised over £1 million, of which £865,000 was raised on Crowdcube. The sum raised on the crowdfunding platform is nearly 75% more than its target of £500,000. ScribeStar will use the funds to further its expansion in the capital markets digital document production market, and to help traditional and blockchain-based stock exchanges digitise their platforms for the non-trading processes related to fund raising and compliance.
ScribeStar has now had almost 60 equity, debt and public takeover transactions on its platform and is continuing to work with pioneering law firms such as CMS, Taylor Wessing and Travers Smith.
Adam Shaw, Executive Chairman and a co-founder of ScribeStar, commented:
“We are delighted to see so much interest in our platform that we raised almost 75% more than we targeted on Crowdcube. We are very pleased to welcome our new investors and to receive the continued support from our current shareholders. The new funding will enable us to continue expanding our customer base in the UK and other regulated markets. It also allows us to further develop our unique technological advantages that lawyers find so useful in making verification and regulatory filings much more efficient than is possible with current methods. With these advances and the interest we are seeing from stock exchanges, we are moving a step closer to realising our vision of building a single digital ecosystem for capital markets.”
Bakground for editors:
ScribeStar is a secure cloud-based platform for the improved production of documents for complex capital markets transactions and their regulatory filings. ScribeStar’s digital ecosystem provides complete project management for document production 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 of bonds and equity-related instruments can go to market sooner, with reduced administration work for lawyers and regulators, less execution risk and for lower cost than traditional methods.
ScribeStar’s key users are lawyers, issuers, regulators, stock exchanges and the other advisers in the public capital markets space. These complex document sets require careful project management, precise version control, separate typesetting for printing/publication, time-consuming content verification/fact-checking and regulatory compliance approvals. ScribeStar has been built specifically to offer all these features in a versatile way, where all required capabilities are available in one ecosystem that handles the information from first draft to final publication, with the ability to go straight to printing without third party typesetting.
ScribeStar is a member of London Stock Exchange Group’s Issuer Services platform. Its customers include CMS, Taylor Wessing, Travers Smith, Investec and finnCap. Documents produced on ScribeStar’s platform in 2020 included: the Wheaton Precious Metals IPO (the largest IPO on the London Stock Exchange in 2020), Conduit Re IPO (at £1.2bn, the largest start-up IPO in 2020), the Smithson additional capital raise prospectus in March 2020, the Triple Point Social Housing REIT, the Aquila European Renewables Fund and the Sequoia Economic Infrastructure Income Fund. More at www.scribestar.com.