14.7 C
August 11, 2022
Finance Technologies

Identitii to raise $11m in blockchain IPO

Digital identity management firm identitii will launch an IPO on the Australian Stock Exchange (ASX), reports David Penn at Finovate.

The firm will seek to raise $11 million in advance of an ASX listing in September.

The goal of the IPO is to sell 14.6 million shares at 75 cents. The money raised will be used in part to support development and marketing of identitii’s Serra solution, which leverages blockchain technology to help FIs fight money laundering. A comparable amount will be kept as working capital with smaller amounts dedicated to areas such as R&D and IPO expenses.

Identitii’s IPO is being facilitated via the Equitise equity crowdfunding platform.

Founded in 2014 and headquartered in Sydney, identitii’s Serra solution combines distributed ledger technology (DLT), and relational and graph databases to enable auditable data exchange between FIs.

The firm says the technology helps lower compliance costs, accelerate payment processing, and generate potential revenue opportunities for banks.

in May, identitii partnered with robot automation company Blue Prism. Together the companies will develop solutions to help FIs better fight fraud via digitised automated corporate payment and trade transaction processes.

Identitii to raise m in blockchain IPO
Identitii to raise m in blockchain IPO

Related posts

PayTech Awards Supplement

Amme Jhonson

Supplement: FinovateEurope 2019

Amme Jhonson

Augmentum Fintech to double in size as it seeks £150m fundraise

Amme Jhonson

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Policy