Trust Stamp, a global provider of AI-powered identity services for use in banking finance, regulatory compliance, and more, has commenced trading on Nasdaq under the ticker symbol IDAI.
This is an uplisting as Trust Stamp has been trading on OTC Markets.
Gareth N. Genner, Trust Stamp CEO commented on the Nasdaq listing:
“Following a record year indicative of our sustained positioning for company-wide growth, uplisting to Nasdaq is a natural but important progression for Trust Stamp and our shareholders. As the premier exchange for technology innovation, Nasdaq offers enhanced credibility and exposure which will allow us to accelerate organic and M&A growth as we capitalize on global development opportunities with a matured portfolio of transformative identity solutions.”
In advance of the uplisting, Trust Stamp raised funding under both Reg CF and Reg D in a side-by-side offering.
Under the Reg CF offering, Trust Stamp oversubscribed the round topping the $5 million funding cap. Retail investors committed a minimum of $1000 at a pre-money valuation of $77.5 million, according to the offering page. The securities offering was listed with the assistance of Dalmore Direct. Additional funding was raised via a Reg D (plus Reg S) offering.
Trust Stamp said that 2021 was a transformative year as its business grew with year over year revenue jumping by 195%. The company reported a 50% growth in the number of contracted clients – including a $3.92 contract with the US Department of Homeland Security.
Trust Stamp’s market cap is currently around $150 million.
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