Vizolution secures £10m in funding from banks

The company, formed in 2013 and based in Swansea, aims to enhance the customer service of businesses via end-to-end screen sharing technology.

“The rise of subscription billing in software and digital services”

According to the Q1 2018 benchmarking report on Digital Commerce Trends in Software & Online Services Sales by 2Checkout, the digital commerce and payments provider, 76% of sales in Q1 2018 have been for recurring-based purchases. Read more

They also have had offices open in Port Talbot, Toronto and Boston within the last year.

The funding that the firm has received will go towards company growth acceleration and product development, with investors Santander Consumer Finance, RBS and HSBC continuing to make use of the company’s capabilities as clients.

“Since our initial investment in October 2016, we have witnessed Vizolution’s rapid global expansion and continued development of its products,” said Gayle Lacey, COO of UK CMB at HSBC. “This reinvestment shows our continued support for the company and we are confident that with this additional funding Vizolution can continue to strengthen the solutions that they offer and in turn continue to improve our customers’ digital journeys across our product lines.”

Also included in the parties responsible for raising the funds include the Development Bank of Wales, as well as several family offices and private investors.

“Is technology the key to tackling the ageing population boom for banks?”

Mark Aldred, Head of International Sales, Auriga looks at how technology can impact the banking sector and why it’s adoption is a must. Read more

Bill Safran, CEO of Vizolution, was keen to express his delight at the confirmation of Santander and RBS becoming stakeholders, joining already existing investors HSBC.

“This investment is a testament to the innovation and capability of our technology. Together, we will be able to create the very best possible solutions for our clients’ customers,” he said.

Talks between Vizolution and Santander, as well as between the company and RBS, in regards to investment began back in early October.

Avatar photo

Aaron Hurst

Aaron Hurst is Information Age's senior reporter, providing news and features around the hottest trends across the tech industry.