Development Bank helps unlock growth for South Wales home technology start-up SecuraCo

Development Bank helps unlock growth for South Wales home technology start-up SecuraCo

The Development Bank of Wales is helping a South Wales home technology start-up to go to market this spring with a £50,000 micro loan to help launch their first smart home locking system Securaki.

This home locking system is set to revolutionise the smart home security market, and could result in door keys being a thing of the past. Securaki can be fitted on to most door locks quickly and easily, with no specialist expertise needed, converting any lock into a smart lock – making it ideal for not only homeowners but also properties with temporary residents such as rental and AirBnB properties.

Once fitted, users can remotely lock or unlock their doors without keys, using their fobs, digital keypads or smartphones. The Securaki mobile app also allows owners to check whether doors are locked or unlocked, monitor the activity of other users, and provide temporary or time-limited access when needed. It is also the only smart lock that can be used with 90% of UK doors and most European and US doors.

The Cardiff-based startup has now signed a distribution deal with Nimans, one of the UK’s major technology distributors, to take the pioneering startup to both domestic and commercial market.  The loan from the Development Bank of Wales will be invaluable to support this launch, allowing them to get products out to customers early in the spring.

SecuraCo is the brainchild of Gavin Jones, a construction entrepreneur, with the company later joined by technology entrepreneur Nadeeke Illeperuma. Both have  decades of experience in the market, which helped them to create, design, and develop this innovative solution, with the agreement with Nimans steered by Simon Humphries, the business’ sales and marketing director.

CEO and founder of SecuraCo, Gavin Jones, said: “We all know from personal experience how frustrating and stressful losing your keys can be. That is how I got the idea for Securaki. Given its universal application to any type of lock, and how easily it can be fitted, we are hopeful that Securaki can make those stresses a thing of the past – not just for individual homes, but also for larger buildings such as apartment blocks and workplaces, as well as rental properties.

“We are excited to get them out to market this spring thanks to the support of the Development Bank and our distributors. And this is just our first product – we also have plans to add more products to the SecuraCo product family, including smart cameras, alarms and doorbells.”

Co-founder of SecuraCo, Nadeeke Illeperuma, added: “Our mission is to help make smart home technology accessible to all, with our first product helping to convert every lock into a smart lock. With Securaki, we were focused not only on creating a product that was easy-to-use and incorporated pioneering technology but also was beautifully designed so every user would want one on their door.”

Claire Vokes, investment executive at the Development Bank of Wales, said: “It was a pleasure to work with Gavin and Nadeeke at SecuraCo. Their product has fantastic potential, and we look forward to seeing SecuraCo acquire their first customers as the new units start rolling out this year.

“Our micro loans can help businesses take the next steps in their growth, including bringing new products to market or launching new services.

The £32.5 million Wales Micro Loan Fund is financed entirely by the Welsh Government. Loans between £1,000 and £50,000 are available for small to medium sized businesses, including limited companies, sole traders and partnerships with repayment terms ranging between one and 10 years.

For more information, visit www.developmentbank.wales

Claire Vokes, Development Bank of Wales; Gavin Jones and Nadeeke Illeperuma, SecuraCo.