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Valuation breakthrough

Tech start-up plans real time market for private firms

Daniel BrobyA university start-up has unveiled a breakthrough in creating a real time valuation for private companies that also creates a virtual stock market in their equity.

Listings Ledger, based at Strathclyde University, draws on public information from Companies House and financial data from stock markets.

It has now applied for a patent for its technology which was developed by a six-strong team based at Strathclyde Business School. Those behind the project say it will be based in Glasgow and they want to roll it out to other countries.

It has attracted former employees of Goldman Sachs, Morgan Stanley and Bloomberg, and is currently recruiting about a dozen staff ahead of a likely fund-raising round in the summer.

Daniel Broby, pictured,  director of the university’s Centre of Financial Regulation and Innovation and Listings Ledger co-founder, said: “Scotland has always been at the forefront of financial innovation, and as a Scottish-based company we are proud to be driving technology that will benefit company owners, financial institutions and the wider UK economy.

“This patent application is the culmination of a great deal of academic research into this developing and groundbreaking technology. That said, it’s merely a milestone in our ambitions for Listings Ledger.

“We want to give private firms and the entrepreneurs behind them the benefits and freedom that publicly traded companies enjoy, creating a new market and ecosystem that can allow companies develop more rapidly through more easily available financing, thereby benefitting the entire economy.”

Chief product officer Matthew Welstead, formerly of Goldman Sachs, said: “The applications of the Listing Ledger technology for investment banking and private equity investment are wide ranging, cutting out hours of costly manual calculations and opening up a whole new range of services and opportunities for financial markets.”

See also:

Scottish Stock Exchange backers to unveil latest plans

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