The investment will help the company expand its UK operations and create 250 jobs in Britain, and will enable the company to strengthen its global footprint through the opening of a series of new offices around the world, creating an additional 200 jobs.
Powa helps retailers to be able to sell their goods online quickly and easily, providing tools to enable firms to set up and manage their own online shops and take payments.
“As a British entrepreneur, I’m delighted to create new jobs for British people in what are challenging economic conditions,” said Dan Wagner, CEO of Powa Technologies. “We have one of the best skilled workforces in the world and the tech sector is growing seven times faster than the rest of the economy. It gives me great pleasure to be making this announcement, which will contribute to the recovery of the economy in a positive way.
“I would love to see more British companies follow in our footsteps and continue to create jobs that will help to speed up the UK’s recovery.”
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