Eurogen Systems Ltd, a two year-old Oxfordshire-UK company which supplies software for the tool hire industry, is to receive another 50,000 pounds of investment from Oxford Technology Venture Capitalist Trust. Oxford put 150,000 into the company last December but says that since then, the business has expanded more rapidly than was envisaged. Eurogen is benefiting from interest in its software overseas and a rapid international expansion of tool hire group HSS, which has just opened a subsidiary in Florida to break into the US market. As a result, Eurogen expects to boost turnover of 1.1m pounds last year to more than 1.5m pounds this year. The company has just entered the car hire market and its related accounting software package is already used by companies in other industries. With its basic business expanding so rapidly, there are no plans at present to push the accounting software side – though the situation could change in the future.
