Cwmbran digital data processing company expands with Welsh Government and Finance Wales funding package
Digital data processing company Genfour, which moved to South
Wales earlier this year, is expanding with the backing of a funding
package that includes a £200,000 loan from Finance Wales and
business finance from the Welsh Government.
As part of its ambitious growth plans, Genfour expects to
recruit 36 programmers and developers over the next 3 years from
its service centre at Cwmbran’s Springboard Business Innovation
Experienced IT consultant and Chief Executive, James Hall, founded
the company 2 years ago to target the growing market for data
processing by robotic process automation and artificial
Genfour’s automation tools mimic the actions of human beings to
complete clerical tasks more quickly, accurately and cheaply.
“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 ,” Hall explained.
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
“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.”
Recent industry research into outsourcing estimates that over
40% of UK companies are expected to develop digital workforces this
year, attracted by potential significant cost savings. Genfour is
set to capitalise on this rapidly growing market.
Genfour is the latest technology company to move into the
Springboard Business Innovation Centre in Cwmbran, which was set up
to encourage and support high growth science and technology
businesses. Since opening in January 2006, over 70 companies have
moved into the centre, securing £10 million in investment and
creating over 400 new jobs.