W2 wins funding for expansion
Thu, 26th February 2015

W2 wins funding for expansion

W2 Global Data Solutions has raised funds through a seed capital financing round, securing investment from a group of angel investors, existing shareholders and Finance Wales.

The Finance Wales investment is the third from its Welsh Government-backed Wales Technology Seed Fund, which aims to help young technology companies based in Wales to commercialise their products.

W2, a software and data services provider has tripled its headcount in the last year and further recruitment is planned following the investment.

It also plans to launch a new line of products targeted at smaller businesses and relocate its Cardiff headquarters.

Chief executive Warren Russell said: "Finance Wales' investment will enable us to expand quickly and strategically into new markets, maintain the momentum of our innovation and deliver on our vision."

Welsh Government economy minister Edwina Hart said: "We want to increase the number and growth of successful, IP rich, technology based businesses in Wales and attract technology businesses that have the potential to trade globally, contribute to economic growth and create high-quality skilled jobs."

category Wales  |  source Insider Media