Calgary, Alberta--(Newsfile Corp. - January 16, 2024) - 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, is pleased to announce that it facilitated over $647 in capital raises during 2023 through its DealFlow platform.
Despite continued economic headwinds and a slowdown in capital markets activity, Katipult's Enterprise customers were able to raise 71% more capital than in 2022, completing deals valued at $545M compared to $318M in the year prior. Various exemptions, including Reg D offerings in the US and the new LIFE exemption in Canada, facilitated the capital-raising activity.
Data from Katipult DealFlow also showed a 55% increase in the total number of deals launched on the platform and a 10% increase in average deal value, suggesting a trend toward improving capital markets activity heading into 2024.
In addition to the total capital raised, enterprise transactions also experienced 6.8% growth, and the overall number of transactions reached 19,018 in 2023. There was also a substantial increase in the average transaction value for enterprise customers, which reached $78K per transaction from the $48K recorded in 2022.
"Our DealFlow product continues to improve the operational capabilities of our customers," said Katipult CEO Gord Breese. "DealFlow introduces modern workflows to improve the capital raising process for all stakeholders, which results in faster deal closings, lower investor friction, and more successful capital raising efforts."
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 solution 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.
Forward-Looking Statements
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding potential revenue expansion of the Company's product offerings 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 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, 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.
For further information: Katipult Technology Corp., Gord Breese, CEO, gbreese@katipult.com, +1 (604) 760-4000
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194362
SOURCE: Katipult Technology Corp.
