Asura Financial Technologies (AFT) obtained the investment deal under a new business support framework developed by Glasgow District Council. The company, which supplies cost-saving solutions to stockbrokers and wealth managers, has been backed by ESM Investments, a Scottish Investment Group focused on supporting high-growth companies.
Harper Macleod, which was appointed to the framework in February, advised AFT on the deal. The Glasgw-based law firm was enlisted to provide advice to small and medium sized companies on issues such as company structure, board development, franchising, valuation and succession planning.
AFT, founed by Tony Hamill and David Waddington in late 2015, was one of the first SMEs to move into The Tontine, a dedicated space for tech start-ups on Glasgow’s Trongate. Mr. Hamill said : “This is a huge deal for us. The investment gives us the finance to go ahead and grow the business, particularly the development and sales arms, which is essential as we expand. The fact that we were able to demonstrate to a group of investors exactly what we do, and to give them the confidence to buy into it, is a massive thing.”
Steven Morris of ESM described the technology supplied by AFT as “potentially very disruptive”. He said “the market is large enough for the company to achieve its goals”.
