Stampify has decided to go live with its platform amid the current crisis. The fintech and regtech startup is specialized in the digitalization of shareholder and board meetings.
Its new online application, which was due to be launched this fall, enables companies to organize and hold urgent general meetings.
Participants can also create meeting minutes, reports and documents that can be signed using e-signatures in a legally-binding way.
“As long as the state of emergency is maintained here, our technology remains available for free under certain terms and conditions which are mentioned in our website” explains Elena Sychkova, marketing and communications manager at Stampify.
“We will offer our technology, as long Luxembourg’s state of emergency remains.”
Managing strategic crisis meeting
Currently, the digital platform intends to help companies manage their strategic crisis meetings. The automated meeting preparation, voting and signature processes allow boards and committees to not only focus on decision-making processes but validate decisions these remotely and immediately.
“The output is a digitally signed meeting report which includes the agenda of the meeting, its updates, the attendees, the voting results for each point, the meeting minutes and the signature of each meeting participant,” Sychkova details. “The report is validated by a qualified e-signature after which it becomes legal.”
“For the COVID-19 version, only one signing will be required to validate the final output of the meeting,” she adds.
The user identification, as well as the legally binding aspects of the resolution signings are performed using LuxTrust’s technology.
Additionally, the automated publication of the votes will be conducted using the Ethereum blockchain technology, providing users with a life-long proof of decisions made.
According to Sychkova, companies, as well as fiduciary and legal practices have said they are ready to test the platform. One has already signed off.
“Our idea is to automate the corporate governance workflow of companies.”
Automated corporate governance workflow
Meanwhile, Stampify is already working on new developments dedicated to corporate workflow. The new functionalities include proxy services, such as share issuing and transfer, shareholder registry, and voting on behalf of shareholders at annual general meeting.
“Our idea is to automate the corporate governance workflow of companies to make it easier and more transparent with smart technology”, Sychkova says.
Incorporated in September 2018, Stampify is hosted in the LHoFT. The five-person fin-tech targets clients in financial and non-financial industries in Luxembourg. It aims to enter the Belgian market in the coming months. Its CEO Guillaume de Vergnies expects to close the seed funding round soon. The company did not disclose the amount of expected funding.
Photo: Stampify’s CEO, Guillaume de Vergnies, expects to close a seed funding round soon © LHoFT