Five-figure investment from xénos business angel helps ambitious Welsh business software company expand

 

HudmanAn award-winning Cwmbran-based company developing cloud-based business software solutions for small and medium-sized businesses (SMEs) has secured a £75,000 equity investment from xénos business angel, David James.

 

Hudman Ltd has been selling its cloud-based Central Accounting software, which provides SMEs with accounting and financial forecasting software, since founder Paul Driscoll established the company in 2006.

 

The company has now used the investment to launch new versions of its cloud-based Central Accounting and Enterprise Resource Planning (ERP) software packages. It also plans to develop new versions for key industry sectors.

 

Hudman is now targeting its ERP package, which helps SMEs to manage key functions like purchasing, stock management and distribution, at SMEs in the manufacturing sector.

SMEs can use Hudman’s off-the-shelf software packages with no upfront costs, full-time support all for an affordable monthly payment.

 

The investment is not just financial, with Mr James becoming managing director of Hudman Ltd, the angel investor is providing his money alongside his experience enabling the ambitious software provider to benefit from his business management and digital marketing experience also.

 

Mr James said: “Hudman had developed a great product which needed further investment to exploit its full potential. I have a background in digital marketing and a great deal of business experience and Hudman offered me an excellent investment opportunity.

 

“I’ve worked alongside Paul, Hudman’s founder since making my investment and I’m impressed by what Hudman’s range of software can offer. It’s a cost-effective accounting solution for SMEs and we’re now taking great strides forward with interest from new customers growing month on month. ”

 

Paul Driscoll, Hudman’s founder and Commercial Director, added: “Our products are competitively priced for the SME market and with prices starting at £199 per month including full-time support, smaller businesses can now benefit from a comprehensive software package that includes features previously only available to larger businesses.

 

“I’m pleased xénos has matched us with an investor who has not only invested the capital we need to expand, but who also brings a wealth of expertise to help us expand successfully. Since David joined us we’re already seeing the commercial benefits of repackaging and relaunching our software.”

 

The market for cloud-based accounting systems in the UK alone is huge and Hudman’s innovative products

can be adapted for international use.

 

 

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