The online debt collection solution Tilbago was the first company to process a capital increase via the daura platform. This is based on the blockchain technology and offers Swiss SMEs and start-ups completely new possibilities for handling their shares.
For small and medium-sized public limited companies, keeping their share books and issuing new shares has so far been cumbersome and costly. This changed in February 2019 with the launch of the daura startup: the daura platform, which is based on blockchain technology, allows share registers to be kept digitally and new digital shares and participation certificates to be issued as part of a capital increase. “As a company that offers its customers an automated innovative operating process, we want to digitise our own processes wherever possible”, explains Tilbago CEO David Fuss. It was therefore clear to him that the capital increase planned for 2019 would be handled by daura. Tilbago had already digitised its share books via the platform before.
“Not dreams of the future, but reality”
With the private capital increase of Tilbago, daura was able to demonstrate the practicality and efficiency of its solution: It took just one week from onboarding to the capital increase. “But it was not only fast, we were also able to show for the first time ever that such an action via our platform and the Blockchain is not just a dream of the future, but reality”, says Claudio Tognella, Partner and Key Account Manager of daura. While the daura platform digitizes the processes necessary for a capital increase, the Blockchain stores the value rights securely, transparently and unchangeably for all parties involved. The daura application runs on a private block chain operated in Switzerland.
Digital securitization continues
The potential for the solution is great: all non-listed public limited companies in Switzerland have the opportunity to handle capital increases in a cost-effective and efficient manner and, for example, to turn clients, employees or business partners into investors by issuing micro-shares. In addition, the daura investor network gives companies easier access to the capital market for public capital increases. And after Tognella, developments are progressing rapidly. The process of digitally securitizing assets – so-called tokenization – and transferring them is not yet complete. “An entire industry of assets will emerge in which the daura solution can play a conceptual role,” he is convinced.