Commercial transaction software start-up thedocyard is targeting an ASX debut next month, following a planned $5 million initial public offering.
The company is hoping to attract interest from potential investors for a maximum 25 million shares at $0.20 each to assist the funding of marketing and customer acquisition activities in Australia and internationally.
It also plans to establish a UK office to service new and existing clients, and continue the development of its proprietary end-to-end deal management technology.
If successful, thedocyard would deliver a $27 million valuation at the maximum raise on listing.
Designed as a cloud-based deal space housing the lifecyle of corporate and commercial transactions on a central platform, thedocyard aims to become a leading provider of next generation deal technology to world markets.
The platform operates on a subscription-based Software as a Service (SaaS) model targeting organisations which manage large or complex deals on a regular basis such as legal and accounting firms, corporate and financial advisers, financial institutions and listed or multinational companies.
It is aimed at solving issues relating to mergers and acquisitions, equity and debt capital transactions, exchange listings, commercial real estate transactions and complex commercial procurements.
Key to the platform’s useability is thedocyard’s guarantee of compliance, data security and process digitisation providing a secure, central and easy-to-use tool for deal management and execution.
The company has engaged a security consultancy with globally-recognised information security certifications to perform vulnerability and penetration tests covering a range of potential attack vectors and weaknesses.
Step change technology
Founder and chief executive officer Stuart Clout said thedocyard plans to disrupt how transactions are currently managed in equity and capital markets.
“Surprisingly, even in this increasingly digital world, today most deals are still manually handled amongst advisors and principles, primarily leveraging email as the backbone of the process,” he said.
“This introduces significant execution risk, data security issues and an almost total lack of audit-ability.”
Technology developed by thedocyard will “represent a step change” for those working on deals in terms of confidentiality, risk and error reduction, and a digitisation of process leading to automation and data-driven insights.
“We operate in a market which includes [many parties] in the signing of inter-organisational transactions … each deal is likely to include a variety of consultants, banks, accountants and lawyers to support a successful process,” Mr Clout said.
“We believe the thedocyard has a strong competitive position as we offer a complete transaction-wide solution to manage and compete a deal, all within a secure encrypted cloud environment.”
A successful IPO will add to the company’s cash reserves of approximately $1.08 million, giving it sufficient working capital to achieve its objectives.
The company plans to trade under the ASX stock ticker ‘TDY’.