Cwmbran digital data processing company expands with government finance package
Digital data processing company Genfour has received a funding package that includes a £200,000 loan from Finance Wales and business finance from the Welsh Government to fund expansion plans.
The company, which moved to Cymbran earlier this year, is to recruit 36 programmers and developers to work in its service centre at the Springboard Business Innovation Centre over the next three years.
James Hall, an experienced IT consultant and CEO, founded the company two years ago with the aim of targeting the growing market for data processing by robotic process automation and AI technologies.
It produces automation tools capable of mimicking the actions of human beings in order to complete clerical tasks more quickly, accurately and cheaply.
Hall said: “We’re currently increasing our capacity and bidding for a number of high-value contracts, both in the UK and internationally, so Finance Wales’ loan has come at the right time. It provides the capital injection we need to implement important changes in the business, including recruiting more staff.
“We’ve built an impressive list of clients which includes Co-operative Energy and the RAC and they’re all making major savings and achieving better efficiency from our bespoke services. This success is helping us to achieve the consistent growth levels we’re currently achieving”
Economy Minister Edwina Hart said: “The investment in Genfour – a high growth innovative technology business – which works in one of our key economic sectors is excellent news.
“I am pleased the funding package from the Welsh Government and Finance Wales not only helped secure this project for Wales but is now supporting the company’s growth at its new centre in Cwmbran where it plans to create highly skilled jobs.”
Commenting on Finance Wales’ investment, investment executive Oliver Jenkins said: “Digital data processing is a relatively new concept offering benefits such as increased accuracy and improved productivity levels. It’s growing in popularity as a viable alternative to outsourcing or overseas processing for many companies.
“James launched Genfour to take advantage of this market opportunity and he’s built up a successful and innovative business over the last 2 years. We’ve worked with the Welsh Government to structure an investment, which will underpin Genfour’s growth plans and maximise its potential.”