Published: Apr 08, 2021
Focus: MEIF Maven Debt Finance
Wysdom Dental Technologies has received a £200,000 loan from the Midlands Engine Investment Fund managed by Maven. The Milton Keynes-based business plans to invest in product development and utilise the funding package to complete and launch its latest software, the cloud based "Wysdom Dental Practice Management System."
Wysdom Dental has over 30 years’ experience within the dental sector developing software and providing dental technology to practices across the UK. The business has developed a suite of innovative software products to support the industry including “Wysdom RotaAngel," an online shift and holiday management system, “Wysdom Digital,” a platform that supplies and manages dental equipment sales and maintenance, and “Wysdom Store,” to help with the purchase of dental consumables.
The business is set to launch “Wysdom Dental Practice Management System – CloudPlus," an innovative software product that enable clients to operate a SaaS browser-based system even if they experience broadband downtime via a unique in-house designed synchronised server. Wysdom Dental will use the funding secured to help finalise the remaining product development work and support the product to launch this year.
Managed by an experienced husband and wife team, Glenn and Jo Wynsor, Managing Director Glenn, spotted the opportunity to acquire and grow the business forward in 2016. Glenn has over 25 years of management consultancy experience and Joanne’s specialism in HR has supported the creation of the Wysdom RotaAngel, marketed to other professional businesses.
The SEMLEP area is home to many varied businesses and clusters including aerospace, engineering, food and drink, logistics and advanced technology specialisms. Wysdom Dental is a good example of a local SME receiving MEIF Debt Funding to support the SEMLEP’s growing advanced technology field.
Graham Hall, Investment Manager for Maven adds: “Wysdom Dental has entered a new phase of growth following continued investment in R&D, helping to fine-tune their product portfolio and better serve clients’ needs. Following an introduction from Independent Banking Consultants (IBC), we are delighted to be able to help Glenn and Jo complete the final development of their new product. Another great example of MEIF and local advisors working together to deliver a timely customer growth debt solution.”
Glenn Wynsor, MD at Wysdom Dental Technologies comments: “Everything was going so well, and then COVID came onto the scene. We, like so many smaller businesses, had a tough time in 2020 but even with the new products nearing completion it soon became clear that we would need some additional finance to see us through to launch. With the help of MEIF Maven we are now looking towards a very strong recovery for Wysdom over the next year or so and a very bright future.’’