A growing tech-focused company based in Mold has secured a £25,000 finance package from BCRS Business Loans to accelerate its software development and expand its reach into international markets.
The funding has enabled The Installation Exchange to invest in the development of its innovative software platforms, Insta-Job, Insta-Carer and Insta-Shift, a move that has already begun to open new doors with clients outside of the UK. The finance will help build on this momentum, allowing the company to capitalise on growing sales opportunities by investing in targeted marketing activity.
Founded by Lee Stephens to initially meet the demands of the telematics industry, Insta-Job was built to enable telematics and CCTV suppliers to upload projects via an app, reaching a wide audience of trained auto-electricians. Following its success, The Installation Exchange has recently built and launched Insta-Carer and Insta-Shift as standalone products and is already experiencing sales traction.
Lee, who has worked in telematics for over a decade before establishing The Installation Exchange, said:
“We were referred to BCRS by Business Wales, as up until recently we had only experienced organic growth, but knew with the right investment, we could capitalise and experience significant growth.
“This finance package has already allowed us to accelerate our software development, which has led to us engaging with a major client overseas, and now we’re ready to amplify our marketing efforts to reach even more businesses.”
The Installation Exchange worked with BCRS Business Loans’ Business Development Manager, James Pittendreigh, to gain access to a £25,000 finance package from BCRS Business Loans, via the British Business Bank’s £130m Investment Fund for Wales.
James commented:
“We’re delighted to support The Installation Exchange with this investment. Their drive to innovate and expand internationally is a great example of the entrepreneurial spirit we’re proud to back, and it’s fantastic to see our funding already making a tangible impact on their growth.
“BCRS is a story-based lender, and we are committed to supporting small businesses to achieve growth. In supporting business, we want to make a positive social and economic impact, and The Installation Exchange is a great example of a company eyeing further expansion, which will hopefully lead to further job creation.”
Bethan Bannister, Senior Investment Manager, Nations and Regions Funds at the British Business Bank, said:
“The Investment Fund for Wales was created to support businesses like The Installation Exchange in their ambitions to develop new products and services to fuel their growth goals.
“As we mark two years since the launch of the Investment Fund for Wales, we plan on continuing the momentum achieved to date to reach as many Welsh businesses as possible, to deploy purposeful financial support. We look forward to following The Installation Exchange as they continue their journey.”
The British Business Bank-backed Investment Fund for Wales operates across the whole of Wales and includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead. BCRS Business Loans is managing the smaller loans part of the fund (£25,000 to £100,000). FW Capital are responsible for larger loans (£100,000 to £2 million) and Foresight manage equity deals (up to £5 million).
Having worked with SMEs unable to access finance from traditional sources in the West Midlands since 2002, BCRS Business Loans has expanded into Wales to help smaller businesses there prosper and thrive under the fund, which was officially launched in Cardiff in November 2023.
Since BCRS was founded as a community development financial institution in 2002, it has provided loans worth more than £100 million to businesses across the West Midlands and Wales. A social impact report for the last financial year showed BCRS lent £9.9m to 124 businesses, safeguarding 889 jobs and creating 317 roles, adding £51.2m in value to the economy of the West Midlands, surrounding regions and Wales.
