The firm was founded in 2010, and says it helps its clients discover, manage, and optimise their data to gain insights and make better-informed business decisions. It adds that it serves customers of all sizes and across sectors, with a focus on banking and financial services, delivering year-on-year revenue growth of 40 per cent over the past two years.
It says that having now secured an unspecified investment from Phoenix Equity Partners, a private equity investor in medium-sized UK companies, it can double its current headcount in Edinburgh to almost 100 people.
Dufrain also cheered its joining of SFE, the representative body for Scotland’s financial services industry, and says it will consequently run events and webinars and contribute to the SFE Young Professionals Network, by running a series of sessions on net zero strategy, mental health, and sustainability practices. The first will be in November, promising to give attendees insights into their data, and how tidying and storing it properly will bring increased profit and better business opportunities.
Gerry Goodwin, sales director at Dufrain, commented: “[We] may serve a global market, but we have never stopped being a Scottish company at heart, and we will always want to find ways to strengthen our presence here while contributing to the community.
"The investment will help us provide almost double the number of jobs in our Edinburgh headquarters while helping Scottish businesses to thrive. We look forward to working with Scottish Financial Enterprise to achieve our vision for the Scottish data management sector in the coming months and years.”
SFE chief executive Sandy Begbie said: “Each new member we welcome adds different experience, fresh ideas, and valuable diversity to our growing financial services ecosystem. Dufrain’s expertise in data management services and data analytics will be of huge value in this regard, particularly as the industry continues its path towards greater digitisation. We look forward to working closely with them in the months and years ahead.”
Previous investments by Phoenix Equity Partners include buying Mobius Life, a provider of investment administration services to UK pension schemes, from Scottish business tycoon Sir Brian Souter’s Souter Investments.