Paywizard lands £3.5m funding boost from SLF

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A Fife technology firm that counts broadcasters such as BT Sport and NBC Universal among its customers is set for international growth after securing a £3.5 million funding boost.

Paywizard, which specialises in subscriber management services for pay TV and is led by chief executive Jonathan Guthrie, has also named former BT Entertainment boss Andrew Burke as chairman as it targets emerging markets in Africa and South America.

The Kirkcaldy-based company received the cash injection from the Scottish Loan Fund (SLF), which is managed by private equity firm Maven Capital Partners.

David Milroy, investment director at Glasgow-based Maven, said: “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 personnel to achieve this.”

The Scottish Investment Bank, the investment arm of Scottish Enterprise, is the cornerstone investor in the SLF.