TV subscriber management systems provider PayWizard has secured £3.5 million in funding from the Scottish Loan Fund.
he funding boost from the SLF will support Paywizard as it seeks to capitalise on the growing pay-TV and video on demand markets by rolling out its software and services internationally. Having recently announced its launch into the Asia Pacific market, Paywizard plans to target emerging markets such as Africa and South America.
PayWizard has also named former Amino Communications and BT Entertainment CEO Andrew Burke as chairman.
Burke will work alongside Paywizard’s co-founders Jonathan Guthrie and Ronnie Millar as part of a new management structure.
“The Paywizard team have a strong track-record in the UK and via their Agile platform they are well positioned to capitalise on consumers’ increasing appetite for viewing video content on multiple devices. The experience and support of Andrew Burke will be of great value to the company as they target international expansion and SLF funding will provide the necessary investment in marketing and specialist personnel to achieve this; we are very much looking forward to working with the Paywizard team,” said David Milroy, Investment Director at Maven Capital Partners, which manages assets for the Scottish Loan Fund.
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