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Zumo, the Leith-based digital currency and payments platform, raised £1.4 million while Blackford, an insurance brokerage with offices in Aberdeen, Edinburgh, Glasgow and London, secured £800,000.
Zumo has appointed its first chief technology officer to lead its plans for product launches later this year. Tim Sabanov, who was previously lead technical architect with Zumo, assumes his role immediately.
The fresh capital will allow both businesses to fund their growth through the pandemic and provide “solid financial footings” for the future.
The investment follows Murray Capital’s participation in another Future Fund cash injection, in a company called CloudNC at the end of 2020. Based in Chelmsford, CloudNC is a UK precision engineering firm which has introduced a “ground-breaking” AI-based (artificial intelligence) approach to manufacturing.
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