NEW YORK, January 29, 2015 /PRNewswire/ --
With a new wave of high profile international investments, the UK is now establishing its own billion dollar start up club says veteran entrepreneur Dan Wagner. The founder of the mobile commerce specialist Powa Technologies, one of the highest valued start ups in the UK, believes the country is ready to claim a place as a leading home of world class innovation.
Powa Technologies, based in the UK and with operations across, America, Europe and Asia, was valued at $2.7bn (£1.78bn) after a series of heavyweight international investors recognized the transformational potential of its mobile commerce platform PowaTag. The company has secured more than $150m in institutional investment over the last two years, including a record-breaking $90.7m Series A round, the largest ever secured by a technology start up.
Dan Wagner, founder and CEO of Powa Technologies, said: "The global stage has always been defined by the Billion Dollar Club, but the focus of international investors is now shifting. The UK should be confident in its ability to create our own world-class breed of technology leaders. There are many companies out there with the potential to achieve this, and we must create an environment that can nurture and sustain their growth."
He continued: "The increasing level of attention the UK technology scene has received in the last few years makes it clear that the international investment community has begun to recognize our vast potential to innovate and build companies which can become global market leaders.
"I believe it is very feasible for the UK to produce a global digital champion that will secure ubiquity comparable to Microsoft or Google within the next five years. Heavyweight investors from around the world are starting to recognize the powerful potential for UK companies on the global business stage."
Powa Technologies is recognized by the Wall Street Journal's prestigious Billion Dollar Startup Club, listing the world's leading companies valued at over $1bn - one of the few non-US companies to be listed. Dan Wagner believes the investment attracted by the digital economy and the jobs created as a result plays a vital role in economic growth and movement away from recession. Job creation was a priority for Powa after the $76m investment it received in 2013.
Dan Wagner added: "The UK's own developing billion pound club is largely centered around digital innovation, especially the use of mobile technology. PowaTag itself is built on the vision of using mobile to empower consumers with a new level of freedom and flexibility in the way they shop and interact with brands in their every day life."
PowaTag gives users the ability to engage with brands and complete transactions using an array of triggers, including scanning print material, Bluetooth beacons, audio tags and social media. Interactions such as shopping purchases or charity donations are completed with two taps of a smartphone using pre-entered payment and address information.
About Powa Technologies
Powa Technologies is an international commerce specialist that creates technologies that enable a seamless consumer experience across all purchase channels: online, offline and everywhere. With its next-generation solutions PowaTag, PowaPOS and PowaWeb, Powa removes the final barriers to instant global transactions through a revolutionary instant mobile payment technology, the first fully integrated tablet POS platform, and advanced cloud-based ecommerce solutions. Significant investment capital has accelerated company growth, attracting the industry's finest subject matter experts to conceive, build and deploy innovative commerce technology at the heart of both merchants' and brands' future omni-channel selling strategies. Powa Technologies is headquartered in London, UK, with offices in New York, Atlanta, San Diego, Miami, Toronto, Paris, Madrid, Stockholm, Berlin, Amsterdam, Milan, Hong Kong, Taiwan, Singapore and Shanghai.
PowaTag In Action - https://www.youtube.com/watch?v=or0L7UnaP6g
SOURCE Powa Technologies