Dr Simon Jouet CTO VeryConnect, Stuart Yuill Executive Director, DSL, Liz McCutcheon Operations Manager, LESL, Dr Kyle White CEO VeryConnect, Colette McMorrow Marketing Manager LESL
FAST GROWING SCOTTISH SOFTWARE BUSINESS SECURES DIGITAL DEVELOPMENT LOAN TO SUPPORT GLOBAL GROWTH
A Scottish software company has been awarded a £50,000 Digital Development Loan from the Scottish Government’s new £36m Digital Growth Fund initiative to help fulfil its ambitious growth strategy for 2019, and improve staff digital skills.
The new funding will allow Glasgow based VeryConnect to achieve a 90% faster client response rate and provide a platform to develop new product features significantly quicker than it currently can.
VeryConnect, which was a spin out from Glasgow University in 2013, was founded by Dr Simon Jouet and Dr Kyle White operates across the public, private and non-profit sectors. The business is a leading global developer and supplier of membership CRM software and bespoke online communities, with customers in 10 countries.
The company’s software makes administration more efficient by automating payments, communications, and database management, thereby reducing administration time for clients by up to 80%.
Managed by Lanarkshire Enterprise Services Ltd (LESL) supported by DSL Business Finance (DSL), the Digital Development Loan is the ‘first phase’ of the Scottish Government’s Digital Growth Fund initiative which has the goal of helping Scottish SMEs improve processes and productivity through digital application.
Dr Kyle White said: “We are delighted to have been selected to receive a £50,000 Digital Development Loan. We will use it, alongside investment from the company’s profits, to continue the strong growth we saw last year into 2019 and to improve staff digital skills. We have a strong sales pipeline and this capital will help us to invest in bringing the right expertise into our team earlier than we could have otherwise.”
Stuart Yuill, Executive Director from DSL said: “VeryConnect is a young fast growing Scottish company, with both directors fully committed and passionate about its success. LESL & DSL are delighted to assist the business through the loan application process. The loan will enable the company to continue its growth, improve its competitiveness, create new jobs and offer additional services to both new and existing customers.”
Digital Economy Minister Kate Forbes said: “This latest investment illustrates the ongoing commitment of the Scottish Government to investing in the digital ambitions of small and medium sized enterprises and their employees. The Digital Development Loan continues to be a popular product in enabling their aspirations and we look forward to more funds being invested in the coming months.”
Digital Economy Minister, Kate Forbes visited Digital Development Loan HQ to meet some of the first recipients of the loan. She described the loan and why it has been offered:
“The Digital Development Loan was launched this summer and has already proven to be popular, with almost £200,000 provided to assist SMEs in Scotland increase their digital capabilities and capacity as well as help upskill staff. With another £100,000 in the pipeline we are delighted, not only with the progress of the fund and its management by LESL, but also with the ambition shown by these companies to embrace digital in the workplace.”
“There is a demand for digital capabilities, and the loans issued through this Fund are responding to that need. This is the first phase of the £36m Digital Growth Fund initiative and SG officials are looking at a number of proposals regarding the use of the remaining funds to help invest in our countries digital future. We continue to seek new ways to support business in tackling the digital divide”.