In August 2017, Katipult appointed Paul Sun to its board of directors. Sun brings over two decades of investment banking experience to the role, having held senior roles at Scotia Capital, Desjardins, and Beacon Securities. In addition to being a member of Katipult’s board, he is the acting CFO of Draganfly Innovations Inc. and sits on the board of Global Gardens Group (TSXV:VGM).
We sat down with Sun to learn more about why he joined Katipult’s board, his impact on the firm, and what he sees for Katipult’s future.
Katipult: Why did you join Katipult’s board?
Sun: I wanted to be involved in the next generation of how companies and firms raise capital. I come from the world of traditional investment banking so thought that my background would help bring some old school perspective to the new model of doing things.
Katipult: What was your first impression of Katipult?
Sun: I like that it’s global and scalable. It has high margins, and it’s a recurring revenue-based business (SAAS). [Co-founders] Brock and Pheak built it with very little capital and I like that they’re shrewd and conservative. They’ve also surrounded themselves with a great team to make it truly a global business.
Katipult: What are the things that appeal to you most about Katipult?
Sun: I think Katipult will be very successful because it offers a turnkey digital platform for companies that don’t have the manpower to think about regulations or the other things you have to do to raise capital. Katipult can be customized for geography and industry vertical - that’s compelling for private companies looking to access capital and manage investors.
Accessing capital can be quite arduous, especially for a private firm that doesn’t have the opportunity to work with an investment bank. Having a platform with a back office, having all the regulatory requirements figured out for you, is really powerful. It’s something companies would love to have so they can focus more on their business and operations.
Katipult: What do you believe you’ve gotten out of your experience being a Katipult board member?
Sun: For the past 15-20 years, I’ve been used to raising capital the traditional way, through investment banking. Katipult has given me exposure to young, hungry guys that are the next wave. You can’t stay with what you’re used to - you have to look for the next thing. I’ve learned a lot about how these guys operate through software and technology and how that provides an X factor in terms of accessing the market. It’s an opportunity to grow and learn from these entrepreneurs who have deep knowledge in technology and are driven to achieve their vision.
Sitting on a board to provide strategic guidance and help to the company in achieving their goals is personally gratifying, as well.
Katipult: Where do you see Katipult in the future?
Sun: The company is scalable so I expect Katipult to continue to grow its customer base.
Currently, Katipult is geared towards private companies, but I see a huge benefit of using our platform with public companies. Investment banks who have taken an interest in us, see how the platform works and how they can implement it themselves for their own organization and use with their public market customers. Having exposure to public companies and other players in the world of capital raising, vastly increases our market size which is already huge.
Further, I think our blockchain integration will lead to positive externalities outside of just providing our customers another way to transact. Companies have already raised capital using ICOs, etc so it’s a natural extension for Katipult to offer this as another way for its customers to access capital.
