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Velobici Ltd secured the funding from the Midlands Engine Investment Fund (MEIF) – managed by The FSE Group Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The company will use the funds to bolster its workforce over the next three years, creating seven full time jobs, six dedicated to the manufacturing side of the business and a new finance employee.

Velobici manufactures and distributes high-end cycling apparel and accessories. It uses sustainably sourced fabrics and has an adaptable manufacturing strategy that helps limit excess production. The funding will also enable the company to increase stock levels to help meet demand from both UK and export markets.

The company is also planning to move to larger premises, which will increase production capacity and allow the company to grow its distribution channels overseas. Alongside the larger premises, a new range of cycling apparel is being developed for Spring 2022.

Chris Puttnam, Founder and Director of Velobici, said: “Being a keen amateur cyclist myself, I understand the importance of having the correct, high-performance cycling apparel. COVID-19 affected supply chains across the manufacturing sector, but with lockdown restrictions easing, the situation is greatly improving, enabling us to get back to ‘business as usual’, albeit with the correct safety measures in place.

“This funding has not only enabled us to maintain our workforce, but we are now back to full manufacturing strength, fulfilling current orders and scheduling new ones. We take great pride in attention to detail and all our roadwear garments are manufactured by our own master craftspeople from start to finish. The imminent move to our new premises will see capacity increased to deliver a growth in sales.”

Ann Marie McFadyen, Investment Manager at The FSE Group, which manages the MEIF Debt Finance Fund, added: “Velobici has a highly experienced leadership team, all committed to ensuring the business becomes carbon-neutral by 2025. Its respected high-quality ‘Made In England’ brand, being 100 per cent UK manufactured, is well respected and sought after, both overseas and in the UK by both current and new customers.

“The sector is set to continue to expand, and it is great to see the business getting ready to move to a larger production site to fulfil the increase in orders. We look forward to joining Chris and his team at Velobici on the next stage of their journey.”

Lewis Stringer, Senior Manager at the British Business Bank, said: “MEIF funding can be used for a whole range of purposes, from building teams to expanding premises and purchasing equipment. It’s great to see another Midlands’ manufacturing business securing finance from the fund and growing globally.”

Kevin Harris, Chair of the Leicester and Leicestershire Enterprise Partnership, said:  “Velobici is an innovative textile manufacturer whose products and designs are made right here in Leicestershire, keeping our historic heart of the UK textile industry very much alive.

“I’m very pleased that they have secured this funding to enable them to expand their team and invest in the future of their business. It is essential that our local innovative and sustainable manufacturers get the support and funding they need to expand, so they can offer future jobs and opportunities for local people. This is exactly what the Midlands Engine Investment Fund was set up to do.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

The Coronavirus Business Interruption Loan Scheme (CBILS) was managed by the British Business Band on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS). The scheme ended on 31 March and has been replaced by the Recovery Loan Scheme.

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the region.

A Reading-based outdoor media advertising company has secured £300,000 from the Thames Valley Berkshire (TVB) Expansion Loan Scheme.

The funding will allow the company to acquire two more outdoor advertising sites and complete work on its four existing locations. To facilitate this growth the company will be increasing their employee numbers with key hires being made across marketing and operations departments.

Formed in 2017, Mass Media Outdoor is a leading provider of Digital Out of Home (DOOH) advertising in the M4 corridor and Greater London Area, but has plans to grow nationally. The business currently has 14 live sites comprising of 48 digital advertising screens. Primarily situated in locations with high traffic and footfall, such as arterial roots into towns and shopping centres, the adverts displayed on the screens are targeted to the location and set to run at specific times during the day. This ensures captive audiences see relevant adverts and advertisers get maximum brand exposure. This form of interactive digital advertising has replaced the traditional static billboards only capable of displaying one paper advert.

Mass Lambresa, Co-Founder and CEO of Mass Media explains: “Digital advertising is a fast-paced environment, continually growing and expanding. The finance will be used to acquire new sites allowing us to offer our service to more businesses wishing to target key audiences by streamlining their brand advertising. We are grateful for The FSE Group’s support in taking us through the funding process, helping us to secure the loan which will help us reach our next stage of growth.”

DOOH media is considered to be one of the best mediums when it comes to advertising and reaching a set target market. DOOH holds 50% of the UK market by revenue, with 80% of advertisers citing a significant increase in their sales compared with billboards and static signage. As this is a high-growth market sector, it will present increased opportunities for Mass Media to source more sites for their digital advertising screens, reaching even more target markets.

Rob Hillary, Investment Manager at The FSE Group, which manages the Thames Valley Berkshire (TVB) Expansion Loan Scheme, on behalf of Thames Valley Berkshire Local Enterprise Partnership (LEP) commented: “We were impressed by the management team sector experience, alongside its excellent brand and reputation they command in the market. An increasing number of outdoor static sites are being re-developed to DOOH and Mass Media is well placed to capitalise on this. We are delighted to be able to have secured this funding for the business and look forward to working with the team.”

Jacinta George, Business Environment Lead and Board Director at Thames Valley Berkshire LEP added, “To support the local and national recovery from Covid-19, it's vital that businesses like Mass Media receive funding to create jobs and expand its business offering. Taking into consideration the impact of Covid-19 on SMEs, it's encouraging to see this business want to grow and strengthen the creative sector in Berkshire."

TVB Expansion Loan Scheme is part of TVB Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP. The escalator, which also includes a trade finance loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the TVB area.

For more information about the Thames Valley Berkshire Funding Escalator, please visit https://www.thefsegroup.com/fund/thames-valley-berkshire-funding-escalator/ or contact Rob Hillary at rob.hillary@thefsegroup.com tel: 07436 144531

For more information about Mass Media, please visit https://mass-media.co.uk/

A London based technology business has secured a £500,000 loan from the Greater London Investment Fund to support its ambitious growth plans.

The funding will enable talent technology company Distributed to continue on its already established high-growth trajectory, despite the extensive impact of Covid-19 on the wider business community. The funding is being used to finance additional jobs, with the business rolling out a plan to recruit 20 new staff at its London base.

Distributed has built a process and platform which allows a business to work with the world’s best IT workforce as easily as it could with a local contractor. Its Elastic Teams model provides a solution that delivers fast, consistent, high-quality project delivery whilst giving developers democratic access to work, wherever they are based. 

Callum Adamson, Distributed’s CEO and Co-founder, said: “The pandemic has brought a recognition that geographical boundaries are increasingly irrelevant when recruiting the best talent. With a product already built on this premise, we were confident that we could not only survive, but thrive at a time when Covid-19 was having widespread consequences across the business landscape. With access to finance remaining challenging in the current climate, we are grateful to FSE for seeing the bigger picture and providing funding, which has enabled us to continue our growth uninterrupted.”

Marco Cerrone, Investment Manager at The FSE Group, which manages the £55 million GLIF debt fund on behalf of Funding London, added: “Distributed is already a strong early-stage business with significant potential, as demonstrated by a series of successful equity raises and established partnerships with private and institutional investors. The impact of Covid-19 demanded a combination of debt and equity finance to provide the flexibility needed for the business to stay on track. We are delighted to be supporting this sector-disrupting business that is leading the way in talent management.”

Maggie Rodriguez-Piza, CEO at Funding London, commented: “Despite unfavourable circumstance caused by the global pandemic, Distributed grew an impressive fivefold in 2020. We are excited to support their team expansion as they continue to provide the process and platform which enables companies to work with world's best IT talent.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

Bermondsey based online drinks distributor EeBria has received £250,000 from the Greater London Investment Fund to support its ambitious growth plan.

The finance, alongside an investor injection from earlier in the year, will enable the company to deliver its expansion, recruiting key London based staff across all of the sales and marketing and IT departments and taking on a new larger office space to accommodate its much larger team.

EeBria was established in 2013 by David and Rachael Jackson as a market disrupter in the UK alcoholic drinks distribution sector and is now on the verge of entry into several new European markets over the coming year. EeBria’s online platform connects trade buyers across the UK with both specialist craft brewers, cider makers and distillers as well as recognisable household names. EeBriaTrade.com is an integrated marketplace, providing 700 small and large drinks makers a national sales presence and a logistics system which can deliver kegs, cans bottles and casks to customers that would be otherwise unreachable using other methods. Their 35,000 registered buying accounts, made up of pubs, bars, shops, restaurants and also private buyers, value the huge range of products and brands at flexible order sizes as well as the competitive pricing. 

David Jackson, Co-Founder and CEO of EeBria commented: “We're proud to partner with the largest number of drinks makers in the country and that we offer a range of thousands of products for sale every day, ranging from brand new specialist craft releases to mainstream brands. This list continues to grow, with new sellers joining our platform every week and the craft drinks sector is undergoing exciting growth. The funding will allow us to execute our growth plans, not only creating exciting opportunities in the UK but introducing the EeBria brand to Europe and taking our UK sellers products into new markets for the first time. Thanks to The FSE Group for taking us through the requirements and helping us to secure the finance to realise these plans.”

David Booth, Investment Manager for The FSE Group, which manages the £55 million GLIF debt fund on behalf of Funding London, commented: “EeBria is representative of the innovative high-growth businesses that we seek to back with debt finance. We were impressed by the founding management team and the commercial traction they have been able to deliver to date. We look forward to working with the business as it grows in London.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “Identifying a gap in the alcoholic drinks distribution market, Rachel and David have built a successful national business over the course of eight years. We look forward to what the future holds as they take the big step of expanding internationally and growing their team to support this ambition. We are delighted to support them in their growth journey.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

Maidenhead based company, Made for Drink, has secured a £300k loan from the Thames Valley Berkshire (TVB) Funding Escalator to develop its product range and enable the creation of 13 new jobs.

Established in 2016, Made For Drink offers premium snacks specifically created to pair with alcoholic drinks. Made by hand in Berkshire, the high-end snacks are a welcome alternative to the standard nuts and crisps that often accompany a drink. Their Chorizo Thins, Chicken Salt Fries and Salami Chips can be found in Harvey Nichols, Waitrose, Virgin Wines and Rick Stein establishments, as well as being available in over 2,000 independent outlets.

The funding will allow the business to deliver their expansion plan into 30 Booths stores across the North of England. To facilitate the growing demand for their products, the company is also set to recruit across their production and marketing teams.

Dan Featherstone, Founder of Ruscombe Artisan Food & Drink t/a Made for Drink explains: “Good food and drink bring people together, that’s our aim and it’s something we’re incredibly passionate about. Our snacks are made with the utmost care, from product design right the way through to packaging. We’re proud of the fact that we don’t use mega factories and that our products are sold in home compostable plastic free packaging which is environmentally friendly. We’re very grateful to have worked with Simon at The FSE Group who understood and encouraged our enthusiasm while helping us through the funding process.”

Simon Blackbourn, Investment Manager at The FSE Group, who manage the TVB Funding Escalator on behalf of the Thames Valley Berkshire Local Enterprise Partnership, commented, “Made for Drink has an incredibly experienced management team who understand not only the vibrant snacking sector, but the environmental factors associated with it. Both their knowledge and dedication shine through and are obvious in the quality of their unique and delicious products. We were impressed with Made For Drink’s ability to pivot the business towards an online focus during COVID-19 and their use of the many routes to market that the food and drink sector has access to. The FSE Group was delighted to help the team secure funding and we look forward to watching them grow and develop even more wonderful snacks.”

Jacinta George, Business Environment and Board Director at Thames Valley Berkshire LEP added, “Dan has built a sound business focussed on quality. I’m delighted that the fund has been able to help the business move to the next level, including the creation of jobs. The LEP’s priority is to support businesses at a time they need it. Despite the pandemic, through the Funding Escalator and Berkshire Business Growth Hub we have continued to offer local businesses free guidance and financial support where the traditional routes may not have been as easily available or accessible.”

The TVB Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP. The escalator, which includes an expansion loan scheme, a trade finance loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the Berkshire area.

For more information about the Thames Valley Berkshire Funding Escalator, please visit https://www.thefsegroup.com/fund/thames-valley-berkshire-funding-escalator/ or contact Simon Blackbourn simon.blackbourn@thefsegroup.com tel: 07436 189762

For more information about Ruscombe Artisan Food & Drink please visit www.madefordrink.com