London market and technology solutions companies join forces to support private growth companies

CrowdX, provider of an 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 ninety 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.

Srinivas continued: “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.”