UK-based Shaparency raises £300k for business expansion

By Megha Bhattacharya

UK-based governance platform Shaparency today announced that it has already raised £300,000 of its £500,000 target from investors in London, Hong Kong and Australia in a bid to expand its business.

Shaparency offers a competitive SaaS model which aims to enable boards, from SMEs and charities to multinationals, to better adapt to the new environment, increasing efficiency, improving transparency and fine-tuning governance.

Ben Nowlan, Shaparency founder, said, “Over the past seven months, we have gained clients globally and have successfully launched in the UK, US and Australia. We are proud of the progress we’ve made so far and are now raising capital to help us grow and increase partnerships. Business leaders are beginning to understand the need for digitised operations to build reliable, secure and transparent company governance structures and our platform can provide this. Covid-19 has accelerated the need for modernising business operations and, on the other side of the coin, shareholders are beginning to demand more transparency and better access to the companies in which they invest.”

Shaparency’s technology allows boards to communicate securely with shareholders, providing a portal for them to access company reports and minutes, vote, join meetings, and chat with other investors. It also seeks to disrupt board structures by providing in-depth profiles of the board members. This transparency is expected to aid the diversification of boards, improve performance benchmarking and encourage further tech adoption.

Christian Brown, the managing director of a mid-sized financial services firm commented on Shaparency from a customer perspective said, “This product is revolutionising the way that we manage our document administration both internally as a company and in relation to our client operations where we are the Administrator, the Convenor, the Minute Taker, the Director or the Shareholder for our clients. No more print, sign, scan, email, no more long explanatory emails with instructions and circulating documents, just use the platform to grant access, store, dialog, agree, record minutes, amend and agree them, sign and submit.”