Welsh tech firm gets £10m from three top banks
AWALES-BASED technology firm has secured £10m in funding from three of the world’s largest banks.
Santander Consumer Finance and Royal Bank of Scotland have joined HSBC as investors in Vizolution.
Each of these banks is an existing Vizolution client and uses its transformative suite of solutions to offer effortless customer experiences, both domestically and internationally.
Vizolution is a UK-based SaaS (software as a service) company that helps enterprises streamline complex customer journeys by replicating the qualities of face-toface interactions within remote channels.
Vizolution will use these new funds to develop new products to add to its award-winning suite of customer experience solutions and accelerate growth in its markets.
Bill Safran, CEO of Vizolution, said: “We are delighted that our customers Santander Consumer Finance and RBS have joined HSBC as shareholders in Vizolution.
“This investment is a testament to the innovation and capability of our technology. Together, we will be able to create the very best possible Business Reporter
solutions for our clients’ customers.”
Vizolution technology, which combines the qualities of face-toface with the convenience of digital and the cost of remote, offers a customer-centred human approach in an increasingly digital world, where 75% of people still value the benefits that “in-person” interactions can bring, especially when seeking advice about purchases or complex products.
Unlike other technology providers that offer a point solution to solve individual problems, Vizolution offers a truly end-to-end platform, from the first purchase or service inquiry, through to resolution.
Ian McLaughlin, managing director of home buying and ownership at RBS, said: “We have been clients of Vizolution for over five years and are excited about deepening our relationship as shareholders.
“Last year, Vizolution technology enabled us to introduce the UK’s first-ever completely paperless mortgage process and the results have been transformational in helping us to make the homebuying journey much simpler and easier for our customers. As well as facilitating mortgage loans of approximately £1bn per month, Vizolution has helped us to unlock significant savings in our mortgage operational costs, including removing nearly 7m pieces of paper per year.”
Gayle Lacey, COO of UK CMB at HSBC said: “Since our initial investment in October 2016, we have witnessed Vizolution’s rapid global expansion and continued development of its products. 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 they offer and continue to improve our customers’ digital journeys across our product lines.”
Vizolution has enjoyed significant growth since 2013, and in the last year has opened new offices in Port Talbot, Toronto and Boston. It has also won numerous awards and accolades, including rankings on the 2018 Fast Growth 50 List and Sunday Times Hiscox Tech Track 100, a league table of Britain’s fastest growing tech firms.
In addition, Development Bank of Wales and several family offices and private investors have invested in this funding round.