Port Talbot headquartered Vizolution will be expanding in North America and South America following a recent round of funding.
The market-leading technology company has secured a total of £10 million from new investors Santander Consumer Finance and Royal Bank of Scotland. The Development Bank of Wales has also re-invested £2m, alongside further funding from existing investors and private individuals. This latest round of funding will be used to develop new products to enhance Vizolution’s award-winning suite of customer experience solutions and extend its global footprint.
Established in 2013, Vizolution’s omni-channel digital suite allows customers and agents interacting over the phone or online to share, display, exchange, complete, verify and sign documents as if they were face to face, and works without requiring customers to download any software or apps. With offices in Toronto, Bristol and London, the company now employs nearly 140 people.
Used by 30 global enterprises from the financial services, telecoms and utilities industries, including HSBC, Santander, RBS and O2 (Telefonica), its patented SaaS solutions typically deliver over 40% increase in sales conversions, 50% reduction in transaction times, high levels of customer satisfaction (>80% NPS), improved compliance and reduced costs.
Scanes Bentley, Chairman of Vizolution said: “We are delighted that the Development Bank of Wales remain supporters of Vizolution and continue to believe in what we do. Their investment, help and guidance over the years has meant a lot and has been a big part of our success. We look forward to many more successful years of working together.”
Dr Philip Barnes, Technology Ventures Investment Executive, Development Bank of Wales said: “We are always on the lookout for companies with the potential to not only support Wales’ growth, but also make an impact on the worldwide stage. We have been investors in Vizolution since its launch and have continued to support the company’s growth co-investing alongside the existing and latest investors at every stage. Our re-investment, alongside Santander Consumer Finance, RBS and HSBC is testament to our belief in the quality of its product, brand, and, most importantly, its team.”
Funding for the deal came from the Wales Business Fund, part-funded by the European Regional Development Fund through the Welsh Government.