How distributed ledger could take you from startup to IPO

Forbes

How distributed ledger could take you from startup to IPO

By Elise Shaw

January 17, 2023

The FCX platform combines technological and regulatory expertise and rigour to tokenise securities securely.

Lived experience can be a creative catalyst for an entrepreneur.

In 2015, David Ferrall founded FinClear, the parent company of FCX, Australia’s first securities platform for unlisted companies built on distributed ledger technology. When he built FinClear, he realised there was nothing similar for unlisted companies.

“We saw, as an early-stage startup company ourselves, that there was nothing like in our world in the unlisted world,” he tells Forbes Australia in an interview.

He founded FinClear in 2015 with the idea that clearing and settlement in Australia needed more competition. Now, the business services one in every two listed product transactions flow through ASX and Chi-X every day.

Since its launch in November, around 30 companies have joined the FCX platform, from startups to the largest being FinClear, which was valued at around $500 million when they raised $20 million about a year ago, Ferrall says.

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