Katipult Receives R&D Funding to Help Build Next-Generation Digital Private Placements Ecosystem
CALGARY, AB, Nov. 1, 2021 /CNW/ - Katipult Technology Corp. (TSXV: FUND) ("Katipult" or the "Corporation"), a leading Fintech provider of software for powering the exchange of capital in equity and debt markets, announced today that it is receiving advisory services and conditional funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a research and development project to help develop Katipult's comprehensive digital ecosystem for brokered and non-brokered private placements.
Katipult's digital ecosystem will enable investment dealers and wealth management firms to efficiently coordinate private capital raising activities. This will improve the efficiency of Canada's private capital markets, boost cross-border capital flows, and accelerate the adoption of alternative investment deal structures and transactions.
"We are pleased to receive this support from NRC IRAP in our mission to digitize and streamline the flows of private investment capital. The private capital markets' workflows have traditionally been inefficient and cumbersome, mired in manual processes and outdated legacy systems. This is a huge drag on the potential of the private capital markets, especially in an era where investors increasingly expect a convenient and frictionless experience," said Gord Breese, Katipult CEO.
Once the planned digital ecosystem is in place, brokered deals will be able to be efficiently streamlined across all syndicate members. Issuers will be able to raise capital quicker and easier, with their respective legal counsels better able to coordinate through the ecosystem. As the entire private capital markets become more scalable – with fewer errors, redundancies, and limitations – deal flow should also increase. This will allow investment dealers to be better able to anticipate the needs of investment advisors and their client demands, benefitting every party in the private capital ecosystem.
"At Katipult, we have already helped Tier-1 customers like Canaccord Genuity, Raymond James, Cormark Securities, and TSX Trust automate and streamline their private placement workflows. And now that we have a solid roster of investment dealers using our platform, we are in a position to move beyond just individual companies and help the entire private placements ecosystem at scale." Added Breese. "That is the goal of the planned digital ecosystem – to move beyond silos. And this grant affirms that we are on the right track."
About Katipult
Katipult (www.katipult.com) is a provider of industry leading and award-winning software infrastructure for powering the exchange of capital in equity and debt markets. Our cloud-based platform and solutions digitize investment workflow by eliminating transaction redundancy, strengthening compliance, delighting investors, and accelerating deal flow. Katipult provides unparalleled adaptability for regulatory compliance, asset structure, business model, and localization requirements.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the creation of a private capital network and potential revenue growth constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company will be able to successfully create a private capital network, establish a market demand for the product, and increase revenue. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the Company will not be able to create a private capital network, establish a market demand, or successfully grow revenues. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Katipult Technology Corp.
Katipult Technology Corp., Gord Breese, CEO, [email protected], +1 (604) 760-4000
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