Newport tech business receives support

November 16, 2018 by  

A Newport-based tech firm called W2 has secured significant backing recently.

W2 obtained £3 million in support from two sources. The Development Bank of Wales and Mercia Technologies PLC provided the investment.

Warren Russell is the chief executive for W2 and he has ambitious plans for international growth. Russell founded the enterprise seven years ago. Richard Thompson, a senior executive at the Development Bank of Wales, told Business News Wales:

“We are thrilled to once again be co-investing with Mercia in this latest round to support Warren and his team. W2 has made tremendous progress in recent years and we are excited to see what this funding will bring to the business.”

W2 offers companies important services. The idea is that W2 can help with risk management processes. To be specific, W2 can help an organisation to combat fraud and money laundering. It does so by enabling the swift verification of identity. Individuals and corporations can be checked out.

The client list of W2 has been growing. Firms in sectors such as gaming and betting have been eager to sign up.

It would seem that product development will be accelerated going forward. This effort will be matched by a renewed focus on marketing and sales. Printing services can provide a range of marketing options from graphic design to banner printing. W2 intends to engage in a further round of recruitment.