SaaS Platform ScribeStar, which Streamlines Securities Issuance Process, Secures £587K via Crowdcube

ScribeStar, an SaaS platform that streamlines and automates the “complex and inefficient processes of issuing securities (eg IPOs, bonds) and ongoing reporting in capital markets,” has acquired 106% (£587,395) of its £550,000 target via Crowdcube from 222 investors (at the time of writing) with 18 days left in the firm’s crowdfunding campaign.

ScribeStar claims that they are now “saving up to 50% of the time for their clients and creating new sources of investor data.”

ScribeStar reports a £6,702,236 pre-money valuation, Equity (8.06%), and a £0.07 share price.

As explained by the firm, their software as a service platform enhances and automates the processes of issuing securities (like IPOs, bonds) as well as reporting in capital markets – saving as much as 50% of the time for their customers while establishing additional sources of investor data.

The firm also shared these key highlights:

  • 1900+ users, 86+ projects and 44+ IPOs/listings
  • Part of London Stock Exchange Issuer Services, Barclays Eagle Labs…
  • Board almost doubled its investment commitment to this round vs the last
  • Growing client base and active discussions with stock exchanges

The company clarified that £423,737 of funds on the progress bar “represent funds raised by the Company prior to launching the campaign.” The company has “already received these funds, and the Company has indicated up to £50k may be spent whilst the pitch is live,” the update confirmed. Completion of the Crowdcube raise “will occur on the same material terms and share price,” the announcement noted.

As mentioned in the update:

“Conduit Reinsurance and their deal-team used ScribeStar to successfuly prepare its USD 1.1 bln IPO in London in a matter of weeks.”

The firm added:

“Every year companies go through the costly and cumbersome nightmare of producing the paperwork and complying with regulations required to issue and/or maintain their listings. It’s a costly and painful process with deal-teams using old and inefficient technologies.”

They also mentioned that ScribeStar “helps fix that.” Their smart automation and a customized set of digital tools “make market interactions easier, cheaper and lower risk.”

In an interview with the London Stock Exchange, Taylor Wessing LLP’s Partner William Belcher stated:

“[Savings from using ScribeStar’s automation] …are very material. I hesitate to say 50% but it’s not far off…with ScribeStar being a differentiator for the firm in front of clients”

Last year, ScribeStar’s law firm client base “more than tripled to 10 UK law firms, and users now include firms like Taylor Wessing, Travers Smith, BCLP, Eversheds Sutherland, CMS Law, amongst others.”

ScribeStar aims to be “the digital connector between companies and the market.” They currently have 3 commercial offers “being reviewed by national stock exchanges, trials done by two others, and a handful of others in different stages of conversations.”

The firm added:

“This is an opportunity to invest in ScribeStar’s growth with our core client groups, positioning with stock exchanges, and expanding our platform to ESG reporting. Join us on our mission to become the standard for issuance and reporting in capital markets.”

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