We are thrilled to announce that Simpleweb’s first investment, W2 Global Data Solutions, has received Mercia Fund Management’s largest ever Growth Fund investment and a substantial follow on investment from Finance Wales, as well as additional co-investment from existing shareholders and Thorium Technology Investors (TTI).
W2 Global Data offers a range of Know Your Customer, Anti-Money Laundering and due diligence SaaS products.
We first teamed up with W2 in 2012 when their technical co-founder exited, leaving the company with no tech team. We initially acted as W2’s virtual CTO and technical department, before helping them hire their own team and become completely self-sufficient.
Since then W2 has gone from strength to strength, almost doubling its revenue every year.
This is a substantial funding round for W2 who have big plans to expand the team, develop new products and extend their global reach.
“W2 has grown from strength to strength in the last few years and this investment will allow our business to establish its position as a key world player in the field” says W2 Founder Warren Russell. “We have a rapidly growing customer base and we can support them with an expanding team, creating job opportunities in the local area and further afield.”
Richard Thompson, Senior Investment Executive at Finance Wales, said “W2 has made impressive progress year-on-year since our initial investments, when they moved their headquarters to Cardiff. With this investment they are positioned to accelerate their growth as their customers address the increasing regulatory demands companies must now meet.”
Julian Dennard, Investment Director at Mercia Fund Management, said “We are delighted to support W2 and back a management team which is highly experienced in in the anti-fraud sector and cloud-based software companies. SaaS technology is one of Mercia’s chosen areas of focus and so we are pleased to be able to support Warren and his team as they continue to scale.”
Find out more about W2 at w2globaldata.com and watch this space for more news.