News

A Southampton based business driving the development of marine electrification has successfully secured a £500,000 equity investment via The FSE Group, as part of a £4.3 million funding round aimed at accelerating its growth and expanding its workforce.

RAD Propulsion has emerged as a leader in developing electric propulsion systems for small to medium-sized boats. The company is helping reduce carbon emissions within the marine industry, which is currently responsible for 3% of global CO2 emissions.

RAD’s innovative electric engine technology cuts CO2 emissions by 89% compared to traditional diesel outboards, marking a significant step towards environmental sustainability. The engine operates as part of its proprietary integrated, smart control system for the marine sector.

This injection of funds, which includes investment from Ocean Infinity and One Planet Capital, will enable RAD to scale operations, enhance product development and create new jobs, boosting its mission to innovate and improve sustainability in the marine sector.

Dan Hook, RAD Propulsion CEO, said: "This funding not only validates our technology but also strengthens our ability to meet the growing demand for green marine solutions. With a strong order pipeline and strategic partnerships with high-volume boat builders, we are poised to make a significant impact on the industry this year  and we are delighted to be working  with The FSE Group and our other investors on this journey."

RAD Propulsion is also one of the main partners in the ZENOW project, a £5.4 million initiative aimed at creating an electric workboat network across the UK South Coast.

Paul Lyristis, Investment Manager at The FSE Group, added: “We are thrilled to be supporting this impressive management team as they continue to lead the charge towards a greener marine future, committed to delivering high-performance, environmentally friendly marine propulsion solutions that do not compromise on power or efficiency.”

Dr Eric Warner of FAIR Advisers Ltd, who introduced RAD to FSE, commented: “It was great to bring a dynamic, green engineering company like RAD to such an engaged and committed investor as FSE.  The investment process was thorough, searching and ultimately satisfying to all.”

Rockfish, the South West seafood restaurant group, has successfully secured £1.​2​5 million in equity financing from the British Business Bank’s South West Investment Fund (SWIF). 

The investment, via appointed fund manager The FSE Group, is part of a £​3 ​million funding round.  

Founded by Mitch Tonks in 2007, Rockfish has grown to include eight restaurants, two takeaways, a fishmonger, as well as a tinned seafood range. Additionally, it boasts the award-winning The Seahorse restaurant in Dartmouth. With a focus on sustainability and quality, Rockfish is dedicated to providing the best seafood experience, directly sourced from local ​​markets or from MSC certified fisheries. 

The £200m South West Investment Fund (SWIF) covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead.  

Operating at the heart of hospitality and tourism, Rockfish demonstrated resilience and adaptability in the pandemic, acquiring a fish procurement and processing business on the Brixham quayside. This has empowered Rockfish with control over its supply chain alongside a unique setup that not only secures the finest seafood for its restaurants but also offers competitive and commercial advantages that set Rockfish apart in the sector. 

The company is now set to execute a strategic three year growth plan, which includes the opening of four new sites and the expansion of its retail offerings.  

Rockfish's dedication to sustainability is evident in its operations, with 80% of its menu certified by the Marine Stewardship Council (MSC).​​ Recognised as a top 100 UK employer with a top 10 listing in Hospitality, Rockfish continues to set benchmarks in employee satisfaction and operational excellence. Additionally, Rockfish is in the process of becoming a B Corp, reinforcing its commitment to social and environmental standards. 

Mitch Tonks, Founder of Rockfish, expressed his enthusiasm for the future, "This investment is a testament to the strength and potential of Rockfish. We are excited to embark on this next chapter of growth, driven by our passion for seafood and our commitment to sustainability and excellence. We are grateful for the support from the South West Investment Fund and The FSE Group and look forward to bringing our unique seafood experience to even more people." 

Ralph Singleton, Head of Equity, South West at The FSE Group, added: “Rockfish is poised for an exciting phase of expansion. With a robust recovery post-COVID and a highly capable management team at the helm, this expansion will further establish Rockfish as a leader in sustainable and quality seafood dining and we are delighted to be part of this journey.” 

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance. 

Bedford based Influx Technology has secured a £300,000 regional growth loan via The FSE Group to scale the business.

Influx Technology’s leading automotive data logging solutions enable engineers to capture, record, and stream information from vehicles around the globe. The data collected can be analysed and used by car makers to help create safer, more reliable and more environmentally friendly vehicles.

Influx is already working with some of the industry’s most well-known manufacturers, including Lotus and Ford in the UK and Renault in France, and has offices and franchises across Bulgaria, Amsterdam, China and India.

The funding will be used for investment in sales and marketing activity, staff hires and new product development.

Lance Keen, Influx Technology CEO, said: “We are excited to have secured this funding, which will enable us to invest in our growth. Even as a well-established business with a strong product, finding a lender prepared to back new product development can be difficult. We are delighted to have secured this regional growth loan and look forward to working with FSE as we expand our offering and look to grow the business exponentially over the next three years.”

The demand for smart, interconnected systems in the automotive industry continues to rise and Influx’s innovative hardware and software is well-positioned to meet this demand.

Simon Elliott, Investment Manager at The FSE Group, commented: “With over 20 years’ experience in the industry and an established global presence, Influx has fostered strong relationships with key customers and built a robust reputation for its R&D. Its upcoming platform represents a significant innovation in the industry and we look forward to supporting the business on its growth journey.”

The Regional Growth Loan Scheme (RGLS) is managed by The FSE Group on behalf of Local Enterprise Partnerships in the East of England. Loans between £50,000 and £500,000 are available to established incorporated businesses based within the East of England that have a minimum annual turnover of £100,000. The funding can be used for a range of growth activities as well as to service short to medium-term trade and contract finance requirements. The scheme aims to stimulate job creation and economic prosperity and supports SMEs that have the potential to deliver high-growth and employment opportunities across the East of England region.

Reporting to: Head of SWIF Debt

Staff responsibilities: 0

Part time – 2 days a week

This would be ideal for an experienced Business Development Manager from a Business or Commercial Banking or SME lending background (including SME lending brokers) who is looking for a new and exciting opportunity to work with high-growth SMEs.  The finance FSE offers is “market gap” lending/investment which would not be provided by a Bank - looking at business plans and spend required to help the business grow. Our aim is to also increase the probability of success of those businesses, with our “more than money” support with the focus on strong relationship management.

Job responsibilities:

•  Responsibility for origination of lending and investment opportunities for South West Investment Fund (SWIF), including creation, management and development of prospective debt deal pipeline.
•  Marketing & promotion of the SWIF profile throughout Somerset and more widely in terms of potential partner organisations. Management of deal pipeline marketing & promotion.
•  Initial response to inbound enquiries, including preliminary eligibility review and referral through to  debt or equity Investment Managers as appropriate.
• Recording of deal enquiries/flow using CRM system
•  Proactive research of potential businesses suitable for SWIF support.
•  Support origination & appraisal of primarily debt funding proposals.
•  Presentation & meetings with funders, accountant & other potential introducers across the region
•  Attendance/speaking at relevant SWIF roadshows and partner events.
•  Attendance at relevant local or sector cluster networking events.
•  Relationship management of Growth Hub and other partners across the region.

• Signposting of SMEs to relevant support networks, where proposal is not investment ready or requires additional support prior to investment team engagement.

Required Skills & Experience: Based in south Somerset you should have

• demonstrable experience in originating, marketing, promotion & relationship building activity within funding or business support environment and associated SME & partner engagement activity.
• evidence of strong professional network of introducers within the Somerset area
• excellent presentation skills, especially with ability to market the funds to online prospects/introducers & ability to communicate and interact at all levels of management.
• a high level of IT proficiency, particularly Microsoft Office 365 products

 What we offer:

• A competitive base salary commensurate with your experience.
• Pro rata annual leave based on FTE of 25 days plus Bank holidays in England & Wales. You will also get your birthday off.
• Ability for you to use 1 day for Corporate Social Responsibility purposes annually.
• 8% employer contribution to pension scheme.
• Death in Service benefit equivalent to 4x salary
• 50% funded private medical scheme, income protection and health cash plan scheme.

The role is primarily home based however you should have own transport to travel to customers/introducers.  Access to a good quality/speed home internet is a must.

About The FSE Group:

For 20 years our primary goal has been to provide tailored funding solutions and support for ambitious and innovative small and medium enterprises (SMEs), to help them achieve their maximum potential. With over £335m of debt and equity funds under management, the Group is continuing to grow and prides itself on taking an integrated approach to the funding needs of our clients.

Our Purpose

With a passion for, and successful history in, managing and deploying market gap funds with an economic impact purpose, we focus on more than pure commercial return to support the growth of SMEs. We promote diversity. We support underrepresented geographies. We are insightful in determining how we can improve an evolving funding landscape and we stimulate sustainability by successfully recycling smaller funds. We are more than money.

The core values we live by as FSE employees are Collaboration, Innovation, Inclusivity, Sustainability and Delivery.

With one of our core values being inclusivity, we are committed to a diverse and inclusive team. We are an equal opportunity employer and treat all applications fairly and welcome job applicants from all communities and affinity groups.

Job Type: Part time – 2 days per week.

Applicants must have unrestricted access to work in the UK.

For an informal chat about the role, please contact Tim Williams  Tim.Williams@thefsegroup.com

To apply, send your CV to HR@thefsegroup.com 

No agencies

A university spin-out that has developed technology to support the mining industry has received £175,000 equity from the British Business Bank’s South West Investment Fund. 

The investment, via appointed fund manager The FSE Group, is part of a £300,000 funding round which includes investment from Mylor Ventures Angel Network (MyVAN). 

Kernow Mining Optimisation (KMO) Fleet is a spin-out from University of Exeter’s Camborne School of Mines and is now putting to commercial use its extensive research and development work around how technology could be used for monitoring and optimising mining activity.   

The £200m South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead. 

Mining is fundamental to the transition to net zero. Large mine operators have long been relied upon to provide the materials needed for green technologies. However, this is increasingly unsustainable and as demand grows, smaller operators are becoming a crucial part of meeting the shortfall in production. 

Large companies have been able to invest in expensive, sophisticated tech-enabled equipment to help reduce CO2 emissions and improve profitability but many of the smaller companies operate without the technology that can help them optimise their operations. 

KMO Fleet’s low-cost, easy-to-enable and use technology has been developed by the team’s leading experts in the field of mining to provide a technologically enabled fleet management solution to mining operators of any size.  

Matthew Eyre, KMO Fleet CEO, said: “Our technology means smaller mines can now access the same benefits as large operators, positively impacting environmental and productivity outputs across the sector. We are delighted to have secured this investment from the South West Investment Fund via FSE, which means we can recruit additional staff and increase marketing activity to support the rollout of our ground-breaking solution.” 

Anna Staevska, Investment Manager at The FSE Group, added: “Mining remains a growth industry and with this innovative technology, KMO Fleet is well positioned to help the sector move towards decarbonisation. The funding round is enabling the company to quickly expand services and capitalise on its first-mover-advantage. We look forward to working alongside this knowledgeable management team as they grow the business.” 

Rob Misselbrook, CEO of Mylor Ventures, commented: "MyVAN is delighted to invest in KMO.  This opportunity exemplifies our investment strategy - excellent management with very strong domain expertise and networks, global markets, SEIS compliant and technology de-risked by Innovate UK.  We are looking forward to working with Matthew and the team to progress the business." 

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.