Surrey business Symvolli, has secured £200,000 from the Enterprise M3 (EM3) Expansion Loan Scheme, to fund various activities including business expansion, product development and the creation of new positions within the rapidly growing business.
Symvolli, established in 2004 by George Petri, who has over 35 years’ experience in software development, spotted a problem in the market. Many professional and technical services sector SMEs Symvolli was working with also experienced this problem, namely the inability to access an affordable, multi-functional operations cloud-based system incorporating Customer Relationship Management (CRM) and Enterprise Resource Management (ERP) systems in one place.
Historically, the varied and sometimes manual processes involved in running a business, were both dis-jointed and reliant on unconnected systems combined with process driven tasks, such as complex spreadsheets which could result in the duplication of data entry distorting the SMEs reporting. As businesses look to scale-up to reach their next growth level, it is paramount that they feel confident that the source data used for reporting purposes is accurate and can be accessed easily and efficiently.
The company’s innovative, leading edge and cost-effective web-based solution focusses on providing SMEs with the processes and tools needed to manage their businesses better. Symvolli is different in three key respects: it offers total business support, product and services life-cycle management and business intelligence. It amalgamates all the core data in the cloud, negating the need for SMEs to use multiple applications within a business.
George Petri, Director of Symvolli Ltd commented: “Refining every process in a business will make it far more efficient for SMEs to identify possible obstacles to their progress and re-focus their strategy. Symvolli’s reports will provide the ability to convert data accurately and instantly into knowledge. Having the processes and tools which they need, from one source, will help SMEs make informed decisions to grow their business. I would like to thank James for his help in securing this investment and for enabling us to further develop the solution to include Environment and Health and Safety, Governance, Risk and Compliance, as well as industry specific applications. The investment will also permit us to bring on new team members to help us develop the product, in turn, Symvolli can then support other SMEs with their own growth and expansion plans”
James Edwards, Senior Fund Manager at The FSE Group, which manages the EM3 Expansion Loan Scheme on behalf of Enterprise M3 Local Enterprise Partnership (LEP), comments: “It was a pleasure to work with George and his Surrey based team to help them secure the investment needed to help Symvolli reach the next level of their own growth. Recently the business has been working on a mobile friendly app so that SMEs can have access whilst on the go which is an excellent addition to the company’s current offering. I wish the team every success with the next stage and look forward to seeing their progress.”
Kathy Slack, Director, Enterprise M3 LEP, comments: “I am really pleased that our Expansion Loan Scheme is helping Symvolli. Many SMEs are trying to adapt to this new post-Covid environment and innovative, cloud-based solutions which provide a tangible benefit to their workforce are vital to that. I look forward to seeing their continued success.”
The EM3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, £10million initiative funded by Enterprise M3 LEP. The escalator, which also includes a short-term trade loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.
For more information about Symvolli Ltd, visit: www.symvolli.com