A Dundee tech firm hopes to almost double its city workforce after receiving a £4.8 million investment.
Waracle is one of the UK’s largest mobile app developers with around 150 staff, including 50 in Dundee.
Last night the firm’s chief executive Chris Martin said the investment from BGF would help fund expansion in England and internationally.
“We intend to continue to grow in Scotland and we can do that self-funded,” he said.
“But we want to expand in England and build on the success of our recent move to London.
“To go faster in England we are going to look at some acquisitions. We are also investigating expansion into the States next year, perhaps in Boston.”
He said the investment was “good news” for Dundee, as he expected growth would lead to more staff in the city.
Waracle works with some of the UK’s largest businesses across sectors including fintech, digital health and energy.
It supports cutting edge technologies such as the Internet of Things, augmented reality and voice.
BGF was founded in 2011 by Barclays, HSBC, Lloyds Bank, Royal Bank of Scotland and Standard Chartered banks, to provide investment to small-to-medium sized businesses.
Investor Richard Pugh said: “We’re delighted to welcome Waracle to the BGF portfolio, a business which has cultivated a fantastic reputation with a rapidly-growing blue-chip client base and is supported by a great team.
“We’re also proud to make our first investment in Dundee, an important part of the country for BGF and a hub of innovation and talent across a number of sectors that we’re keen to work with in the future.”
