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outdated legacy systems.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.