W2 Global Data Solutions, a Cardiff, Wales-based provider of SaaS, B2B software solutions and data services, secured a series A funding round of undisclosed amount.
Backers included Mercia Fund Management, Finance Wales, and Thorium Technology Investors (TTI).
The company intends to use the funds for the expansion of the team, develop new products and extend its global reach.
Founded by CEO Warren Russell in 2011, W2 Global Data provides a range of Software as a Service (SaaS) products enabling organizations to achieve regulatory compliance in relation to KYC (Know Your Customer), combatting fraud, AML (Anti Money Laundering) protection and frictionless customer on-boarding. The company targets firms in the regulated, government and business community across the globe, and is primarily focused on selling to the gaming, payments and foreign exchange markets on multi-year revenue contracts, enabling players to perform real-time identity verification and anti-money laundering checks against consumers and corporates during the process of opening an account.