Former Comtec founder Simon Powell has secured unspecified “significant investment” into his new travel technology super-group Inspiretec.
He has attracted funding from entrepreneur Hayley Parsons, who sold her stake in price comparison service GoCompare for £44 million.
She will join forces with Powell following the investment into the group that consists of technology companies Comtec, Eysys and Sequence.
Inspiretec will turn its focus on growth, allowing further development of the group’s products, services and team.
The investment by Parsons, who has previously featured within a list of Britain’s top 100 entrepreneurs, follows a period of client wins and project deliveries for the group, including Icelandic day tour operator Prime Tours, ski operator Alpine Elements and Queen Elizabeth Olympic Park in London.
Parsons’ involvement is the latest in a series of collaborations with Powell that most recently included the launch of new investment fund Inspire Growth Wales to help Welsh start-ups.
Powell said: “Hayley will not only join us as a major stakeholder, but her experience and business acumen will be highly valuable in driving Inspiretec forward.
“With the technical, creative and business expertise within the group as a whole, we plan on further developing our footprint across the world.
“We already serve upwards of 150 clients in over 10 countries. Our focus is now on growth, and Hayley’s experience of growing companies will stand us in good stead.”
Chef financial officer, Matt Wakerley, said: “With Haley’s investment, we’re now in a position, both operationally and financially, to go on and expand our unique technology offering on an even greater international scale, all driven by our team based at our headquarters in Cardiff.”
Parsons said: ‘I’m thrilled to be joining Simon and his team at Inspiretec. The group has some exciting plans for the future and I hope my experience can help it grow further.
“I personally enjoy the day-to-day collaboration with people from different backgrounds and with varying skills.
“Getting involved with the team and the brands that Inspiretec already works with – as well as those we will look to acquire in the future– is something I will look forward to.”
Inspiretec non-executive director Huw Morgan said: ‘It’s great for me personally to be working with Hayley again having previously worked together at Gocompare.
“This investment and Hayley’s experience of running an entrepreneurial enterprise will stand Inspiretec in a great position as it looks to grow both the numbers of customers it serves but also the number of countries it exports its services to.’