A digital consultancy has successfully secured £1.6 million in funding, marking a milestone.
- The funding comes as part of the British Business Bank’s initiative in the South West.
- This support aims to foster innovation and drive economic growth in the region.
- Changing Social Limited, a Bristol-based firm, will utilise this investment for expansion.
- Other businesses in the South West have also gained from this strategic fund.
A digital consultancy has successfully secured £1.6 million in equity funding from the British Business Bank as part of the firm’s initiative in the South West. The bank celebrates its support of ten businesses within the first quarter of the year, each benefiting from the South West Investment Fund. This fund has delivered over £5 million in equity funding, facilitated by fund managers such as Maven Capital Partners and FSE Group, which underscores its commitment to supporting regional innovation and economic growth.
The latest recipient of this funding, Changing Social Limited, has been awarded £1.6 million through Maven Capital Partners. Established in 2018 by Steve Crompton and Georgie Kemp, Changing Social aids enterprises in adopting and integrating Microsoft technology, ranging from Microsoft 365 to generative AI. The company plans to leverage this financial boost to enhance its workforce across its expanded headquarters in Bristol, as well as further afield across the UK and overseas.
Luke Matthews, a partner at Maven Capital Partners, expressed enthusiasm over the investment in Changing Social, highlighting the firm’s impressive record of collaboration with clients in both the UK and US. He remarked, “We’re delighted to invest in Changing Social, making it part of our growing portfolio in the South West.” Matthews further emphasized the potential for growth within Changing Social, noting the firm’s experienced and ambitious management team with a strong people-first ethos as a compelling factor in the decision to invest.
Steve Crompton, CEO of Changing Social, described the partnership with Maven Capital Partners and the South West Investment Fund as an exciting new chapter. He commented, “This investment will enable us to scale our operations, enhance our service delivery, and expand our reach both domestically and internationally.” Crompton emphasized the potential to drive greater impact and innovation in AI and digital transformation, expressing gratitude for the confidence shown by investors.
Additionally, the South West Investment Fund has supported other notable businesses, including Rockfish, a seafood restaurant group that secured £1.25 million through The FSE Group. Rockfish is pursuing a three-year growth strategy, which encompasses expanding its restaurant presence and retail business. Similarly, Bristol-based Kelp Industries obtained £500,000 via Maven as part of a £4.3 million funding round. This funding will assist Kelp Industries in bringing its seaweed-based plastic alternative to market.
Jody Tableporter, a director at the British Business Bank, emphasised the importance of the South West Investment Fund in empowering growth across the region. He stated, “The South West is home to a wealth of pioneering companies, from leaders in sustainable packaging to those pushing the boundaries of technology like Changing Social.” The fund has enabled several businesses to secure over £5 million in equity investment, reinforcing its role in unlocking the potential of local enterprises.
The South West Investment Fund’s strategic financial support has significantly contributed to regional economic growth, fostering innovation and expansion within local businesses.
