Identitii is not the only blockchain software maker preparing to list on the ASX.
Tymlez, co-founded by the former SAP and Infosys executive Michael Reh, has completed a non-deal roadshow and is preparing to lodge a prospectus in the next couple of weeks for a raising of up to $8 million. An ASX listing is slated for October.
Advisory and portfolio management company Peak Asset Management is overseeing the deal.
While it was only a few years ago that blockchain was in R&D-land, the technology has moved into production quicker than many thought. The slide deck left with potential investors over recent weeks showed Tymlez is revenue positive; it made just over a half million dollars over the year to June.
Its software has a diverse range of users around the world. Customers including Grant Thornton, which is using it to create immutable records of audit process to meet regulatory compliance requirements. The NGO Save the Children, which has a use case around secure recruitment and onboarding process to satisfy tougher EU privacy laws known as GDPR. Meanwhile, the Dutch Ministry of Transportation has the system managing secure document sharing.
If the raising goes well, Tymlez is planning on listing with a maximum market capitalisation of $30.9 million.
