A Bristol tech company is moving its headquarters to Cardiff next month.
Online booking and reservations business BookingLive, which is based on Whiteladies Road, is planning to open a new office in the Welsh capital on February 3 and will recruit seven new members to the team.
However, the company will still be maintaining a presence in Bristol as it grows, according to our sister title Business Live.
The news coincides with the company landing a £1.31million investment deal with Blackfinch Ventures and the Development Bank of Wales.
Chief executive Vinnie Morgan, who founded the company in 2014, says the funding will help BookingLive with its plans to more than double revenues during 2020 and expand its team.
The company recently opened a satellite office in Charlotte, North Carolina, and the money will also be used to fund further expansion in the US.
He said: “BookingLive is set to grow rapidly in the next two years, as we continue our success in the UK and look to replicate that success in the US.
"Securing the backing of both Blackfinch and the Development Bank of Wales is a great vote of confidence in our company and in our product.”
Blackfinch has invested an initial £406,000, while £250,000 comes from the Development Bank.
Second payments of £406,000 by Blackfinch and £250,000 from the Development Bank, bringing the total to £1.31million, will be made in early 2020.
Alexander Leigh, investment executive with the Development Bank of Wales, said: “BookingLive is a high-quality, high-growth tech business that we are delighted to be welcoming to Wales.
"Their pioneering products and exciting growth plans make the organisation a perfect fit for our Wales Technology Seed Fund; we’re really looking forward to working alongside co-investors Blackfinch and the leadership team at BookingLive.”
Dr Reuben Wilcock, ventures director at Blackfinch Ventures, added: “BookingLive has exceptional traction and we are confident Vinnie will drive strong growth with this round of investment.”
BookingLive works with more than 700 private and public sector organisations, including Microsoft, BMW, Universal Music Group, the BBC, CAPITA and The City of Westminster.
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