Grounds, a blockchain software business supported by Paradice, looks for ASX quotation

The great end of the city has accumulated in the initial public offering of a small payment service company in the expectation that it may have brought forth the next big thing.

Street Talk includes the CEO of UBS Australia Matthew Grounds, the veteran fund David Paradice and the institutional investors based in Sydney KIS Capital, Terra Capital and KTM Ventures are among the existing and incoming investors in Identitii Aspiring ASX.

It is believed that Grounds framed its participation in 2015 while Paradice collected its substantial stake in a pre-IPO collection.

Identitii is a blockchain software company founded by Australians Nick Armstrong and Eric Knight.

Its software is designed to help banks and other international payment providers comply with anti-money laundering policies by attaching messages to each transfer indicating exactly who is making the payment and why.

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Identitii is an addition to the SWIFT payment network, which is the payment system behind most international transfers, and has products from bank to bank and from bank to company both aimed at helping customers get to know their customers better.

It is understood that potential supporters have been informed that Identitii already has one of the largest global banks as a customer.

And now it is lining up for a listing of Australian Securities Stock Exchange.

It is understood that the company is seeking to raise $ 11 million through KTM Capital and Canaccord Genuity brokers, in an agreement that values ​​Identitii for $ 41 million on a market capitalization basis.

The IPO was presented to a handful of brokers & customers, and was subtended by three major institutional investors. The prospectus should be presented with ASIC shortly.

KTM Ventures is an existing investor and the company is represented by Martin Rogers on the board of Identitii. Other supporters include Grounds, Paradice, KIS Capital and Terra Capital.

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