Cardboard Bedding Ltd, trading as Green Mile, is relocating to Prees in Shropshire after securing £180,000 from the Midlands Engine Investment Fund (MEIF).

Cardboard Bedding secured the finance from the Midlands Engine Investment Fund (MEIF) - provided by The FSE Group, Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The funding will also allow the company, which was previously based in Soham, to install two additional production lines to meet the current demand for its equine and animal bedding products, as well as supporting job creation within the business.

Joey Kinnersley established Green Mile in 2012 and began producing cardboard horse bedding which is highly absorbent. The product helps eliminate odours, provides warmth through insulation and is eco-friendly and 100 per cent biodegradable within eight-12 weeks.

Joey Kinnersley, Founder of Cardboard Bedding, commented, “We were previously unable to produce enough bedding to meet demand, but this funding will allow us to both relocate and further expand the business. I would like to thank Kerry, from The FSE Group, who supported us throughout the whole process in order to obtain the funding.”

Kerry Haughton, Investment Manager, at The FSE Group, which manages the MEIF Debt Finance Fund adds: “We were really pleased to be able to support this growing business in furthering its expansion plans and facilitate a move back to its Midlands roots. The additional production lines will provide the opportunity for local job creation and we are looking forward to working with Joey, accompanying him on this journey.”

Ryan Cartwright, Senior Manager at the British Business Bank, said: “The MEIF investment into Cardboard Bedding is enabling the company to relocate back to the Midlands and expand its production capabilities – boosting both the business’s growth, as well as the region’s economy. These are key aims for the Fund and helps to evidence the role the MEIF continues to play in improving the finance landscape for small businesses across the Midlands.”

Marches LEP Access to Finance champion Paul Kalinauckas said: “This is excellent news for the business and for the Marches regional economy. The LEP works closely with MEIF to ensure a wide range of finance solutions are available to businesses in the region so that companies such as this can expand and create new jobs.”

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.

For more information about the MEIF Debt Finance Fund visit https://www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance/ or contact Kerry Haughton, kerry.haughton@thefsegroup.com / m: 07826 001902

For more information about Cardboard Bedding Limited, visit www.cardboardbedding.co.uk

Situated in the London borough of Westminster, technology company Dragonfly AI has secured a £250,000 loan to expand its operations whilst creating employment opportunities for the region.

During COVID-19, the company has continued to invest in its commercial and marketing functions, doubling the size of the overall team. This funding will now allow Dragonfly AI to create 12 more jobs within the next three years. The business will also use the finance to further develop its artificial intelligence (AI) technology and undertake marketing activity to support planned expansion.

Established in 2018 as a spin-out from Queen Mary University of London, Dragonfly AI has developed a suite of tools that enable brands, retailers and marketing agencies to predict, analyse and influence consumer behaviour.

The cutting-edge AI software simulates how attention works in the brain, displaying results on an easy to interpret visual heat map that shows where attention is drawn to in the first few seconds of engagement. The data can then be analysed using the integrated metrics suite, to help marketers optimise their website, content, or retail space by making data lead decisions on how best to display information to attract consumers’ attention. The technology is significantly faster and more accurate than traditional focus groups and works across all principal media types.

Mark Bainbridge, Co-Founder of Dragonfly AI, commented: “Turning a decade’s worth of scientific research into reality has been incredibly rewarding. Our customer base is growing fast and we are working with a lot of well-known brands. The GLIF funding will allow us to execute our expansion plans, creating new employment opportunities in the UK whilst looking at further growing the Drafgonfly AI brand overseas. Our huge thanks go to The FSE Group for guiding us through the process and enabling us to secure the finance.” 

Research shows that around 60% of marketing leaders plan to increase their use of marketing technology, highlighting a clear demand for more innovative tools to give them the edge and stand out from competitors. Dragonfly AI has gained considerable traction with FMCG brands where a $1.5 trillion global market provides the business with significant opportunities for growth.

Stephen Mitchell, Investment Manager for The FSE Group, which manages the £55 million GLIF debt fund on behalf of Funding London, commented: “Mark and his management team have vast experience in launching new technology-based solutions for the marketing industry. They have attracted high-calibre commercialisation and investment partners and, with a next generation product that goes well-beyond others currently available, are well-positioned to take advantage of the growth opportunities available.  We look forward to working with the business as the team expands and it looks to enter new international markets.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “With the help of their innovative AI solution and notable enterprises deploying their software, Dragonfly AI is ideally positioned to maximise the sizable opportunities available in the marketing sector. We are delighted to support Mark and his co-founder David with the growth of their team and are excited by the prospect of international expansion.”

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.

Bodmin based business, Caterbook, has secured £100,000 of equity investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), as part of a larger £200,000 funding round. The round was led by The FSE Group, the appointed fund manager for CIOSIF.

The investment will help the business expand its sales and marketing functions to accelerate growth. Over the next three years, six new jobs will be created within the company to strengthen the sales and customer support teams. The business will also seek to appoint a chief operating officer.

The business has already benefitted from a £150,000 loan made through CIOSIF, which helped it to complete the R&D stage and early roll-out of the software. This debt deal was handled by SWIG Finance who work with The FSE Group to deliver the small business loans part of CIOSIF.

Caterbook was founded in 2005 by Chris and Sally Noon, both of whom have significant experience within the hospitality industry. Having had to use multiple, often non-integrated systems within the sector, they embarked on creating a single, all-encompassing solution for hotels and other accommodation providers.

The resulting cloud-based property management service (PMS) is an innovative piece of software that is able to automate or simplify many of the repetitive tasks that hotels face daily. The system provides accurate data and statistics whilst saving time and money by reducing errors. It also links to many EPOS systems and booking platforms enabling Caterbook users to get everything they need from a single system.

Chris Noon, Founder and CEO of Caterbook, commented: “Since March last year, the UK hospitality sector has certainly been hit hard. During the pandemic, we have kept in touch with and retained our customer base and now the restrictions have started to lift, we are really looking forward to the summer season. This latest investment will enable us to strengthen our team and to grow the business further.”

With around 45,000 hotels in the UK all affected by Covid-19, many will be looking for ways to save money and maximise productivity. This provides a growth opportunity for Caterbook whilst supporting the industry in its recovery. With a growing customer base of over 100 hotel groups, the company is already helping hospitality businesses become more efficient and enhancing the user experience for its customers.

Ralph Singleton, Head of Funds at The FSE Group, said: “It is great that Sally and Chris were able to leverage the full use of the funding options available through CIOSIF. The fund exists to provide funding solutions for start-up and scale-up businesses as well as those more established companies who, for whatever reason, are unable to get the funding they need through mainstream sources.”

Mike Chapman, CIOSIF Business Manager at SWIG Finance, added: “It has been a challenging year for everyone, particularly those working in the hospitality sector. Chris and Sally have worked tirelessly to make Caterbook a success. This innovative software has the potential to save businesses time and money at a crucial point as they come out of lockdown restrictions.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Sarah Newbould, Senior Manager from the British Business Bank, said: “We’re delighted to see Caterbook progress from its initial CIOSIF loan to securing an equity investment as it scales the business nationwide. The fund was set up to help smaller businesses in the region reach their growth potential and we’d encourage other businesses to consider the finance options available through the CIOSIF.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Caterbook is continuing the trend of innovative Cornish tech companies harnessing the full potential of cloud-based systems to help their customers become more efficient and competitive. I’m delighted the fund is backing their further growth.”

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Read more about Caterbook at https://www.caterbook.com/

The FSE Group is pleased to announce the appointment of two experienced Investment Managers: Ann Marie McFadyen and Chris Bailey. They join the Group’s Midland’s team which manages the Midlands Engine Investment Fund (MEIF) Debt Finance Fund and will be responsible for supporting eligible SMEs within the area.

Ann Marie brings over 30 years of experience within the financial services industry, having previously worked at RBS and Bibby Financial Services. Ann Marie will be focusing on the East Midlands area, working to help support businesses based in the South-East Midlands LEP and Leicester & Leicestershire LEP.

Chris joins The FSE Group after 30 years at Lloyds Banking Group, where he had various roles, including in Commercial Business Development and as a Client Relationship Director managing varied, high value portfolios across different sectors. He has an in-depth knowledge of specialist funding and will have responsibilities throughout the Midlands region, helping to build new intermediary contacts and ultimately to fund and support SME’s who are working to scale-up their businesses.

Andy Moss, Head of Fund at The FSE Group, which manages the MEIF Debt Finance Fund commented: “We welcome Ann Marie and Chris to The Midlands Team. They are very experienced finance professionals, bringing strong capability that will help the team support eligible SMEs within the region, enabling us to deliver our stakeholder commitments, whilst strengthening the local economy.”

MEIF Debt Finance Fund can be used for expansion related activities which will deliver substantial growth impact within the area. Through this fund, eligible SMEs can secure growth loans ranging from £100,000 – £1,500,000 which could be used for sales and marketing activity, hiring of new employees/job creation/new product development/exporting abroad/purchasing new equipment/entering new markets.

Ann Marie McFadyen, Investment Manager at The FSE Group, adds: “I am looking forward to supporting local SME’s by helping them to realise their potential. Being able to offer the right financial solutions for their individual requirements is so important and will enable them to grow their business. I’m excited to build long term relationships with local SMEs and watch them go from strength to strength.

Chris Bailey, Investment Manager at The FSE Group, added: “I am keen to provide advice and guidance to help entrepreneurs within the Midland’s area to ascertain the next step of their business journey. I am looking forward to working with a diverse portfolio of companies and being instrumental in helping them reach their goals.”

Mark Wilcockson, Senior Manager at the British Business Bank added: “It’s good to see the MEIF Debt Finance team at The FSE Group being strengthened with the recruitment of Ann Marie and Chris. The Fund is dedicated to supporting smaller businesses across the region in reaching their growth potential, working through our Investment Managers and having experienced teams on the ground, is of course, very important in being able to successfully deploy our funds.”

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.

OpenBlend, the SaaS platform transforming the way companies and their employees think about performance management has taken additional funding and appointed David Grundy as Chair to support rapidly growing demand for its products and services. OpenBlend performance management software helps companies and their employees stay engaged and productive as they respond to the new challenges and opportunities presented by the pandemic and the new world of work.

UK based OpenBlend has received funding from the FSE Group through the Thames Valley Berkshire Growth Fund which has been matched with investments from a number of high profile SaaS Angels. Alongside this round, David Grundy was appointed as Chair and will be working closely with OpenBlend founder and CEO Anna Rasmussen to support the business through the next stage of growth. Grundy previously co-founded Invenias, the leading SaaS platform for executive hiring which was acquired by Bullhorn in 2018. He is currently a Venture Partner with MMC Ventures, Board Observer at MMC portfolio company StorageOS and Chair at SaaS Marketing platform StoryStream.

David Grundy, Chair at OpenBlend “The past 18 months have highlighted the critical importance of good communication between managers and their teams. As we move into a post pandemic world with permanent adjustments to physical working models and expectations of a better work/life balance, OpenBlend can really help companies build stronger partnerships with their employees, driving better performance for the business while improving employee satisfaction and retention. OpenBlend is the right tool at the right time and I am delighted to have the opportunity to work with Anna, Kate and the team.”

Anna Rasmussen, CEO & Founder of OpenBlend “OpenBlend has always had a forward-thinking approach to performance management. Placing the employee at the centre of performance conversations is both logical and effective in driving high performance. Whilst the last 15 months has rocked many aspects of our working lives, the silver lining is how its accelerated the mindset in recognising ‘the human’ in high performing workforces. It’s how it should have always been and I’m thrilled with the outcome. Our time is now, the workplace needs OpenBlend and we very much look forward to scaling the business with the support of FSE.”

Bradley Jones, Equity Portfolio Manager at The FSE Group: “Having known OpenBlend through other FSE funding activities, we have been able to witness the great strides made by the business over the past two years. It was a real pleasure to work with Anna, Kate, David and the rest of the team to complete this funding round. In an ever-evolving work environment, OpenBlend is at the forefront of effecting change in its market. I look forward to working with the OpenBlend team as the business scales with its next stage of growth.”

Camden based Appsumer has secured funding from the Greater London Investment Fund (GLIF), to fund new business opportunities and create a dozen new jobs over the next 18 months.

Founded in 2015 by Shumel Lais and Moin Maniar, Appsumer is a SaaS analytics platform that supports developers of smartphone mobile apps to monitor their marketing spend and user acquisition success rate. Their client facing platform powered by AI captures same day marketing spend data and trends whilst delivering a decision-making tool as to where best to allocate daily marketing spend to maximise new customer downloads.

The mobile app market has grown rapidly in the last decade, and marketing spend in the sector has doubled year-on-year. As more apps are developed, marketing expenditure is the key driver to grow revenue. These developments have a greater data capture which is delivered faster to clients, along with AI decision making tools determining where marketing spend should be distributed. This reduces costs for clients and gives them an edge over the competition.

Shumel Lais, CEO and Co-Founder of Appsumer commented: “It’s great to be working alongside Marco and the GLIF team with a loan that has come at a crucial point in our journey. 2020 has delivered a step change in product offering for us with faster same day processing of data and greater client customisation, allowing us to better service our customers. This loan has put us on a strong footing for further growth as it will allow us to expand and take on major new contracts this year. Additionally, we will be able to create a dozen new jobs in London by 2022. “

Marco Cerrone, Investment Manager for The FSE Group, who manages the £55 million GLIF debt fund on behalf of Funding London, commented: “Appsumer have developed a strong product offering and have an opportunity to build a widespread customer base in a huge & fluid market. We were impressed with the management team and their commercial traction with consistent year-on-year sales growth. We are delighted to be able to provide this funding and look forward to the next stage in their journey.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “We are excited to announce our investment into Camden-based SaaS analytics platform Appsumer.  Seven years ago, Shumel Lais and Moin Maniar capitalised on the opportunity presented by the rapid growth in the mobile app market. GLIF’s investment will support the escalation of the customer experience alongside the team’s expansion. We wish Shumel and Moin great success with their growth plans over the coming months.”

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.

Reading based Ybrant Partners, has secured £250,000 from the Thames Valley Berkshire Expansion Loan Scheme, to design and build IP solutions and enable the company to better service its clients.

Founded in August 2018 by Rajesh Prayaga, Jojy Joseph and Ritesh Singhvi, Ybrant Partners are an IT consulting firm who aim to deliver market leading and affordable HR & Finance solutions for mid-market and large enterprises. Ybrant delivers digital transformation programmes in these businesses and have built ACTIVA, a unique, homegrown IT solution that is specific to each industry sector, and which can be tailored and optimised to business needs.  

Ybrant works in a global marketplace with a focus on the UK and Ireland. The market is wide open with significant potential for HR technology, and recent events in 2020 have accelerated technology adoption. As a result, digital transformation is on the agenda across the industry. Ybrant’s solutions assist their clients in providing an excellent employee experience by covering notable events through the lifetime of an individual, a team and an organisation as a whole.

Rajesh Prayaga, Founder of Ybrant Partners explains: “It is great to be working alongside Rob and the TVB team with funding that has come at an extremely important time as we focus on building our presence in the UK. Thanks to this investment, we will be able to secure new clients and build new IP solutions to improve the employee experience in those client organisations. These solutions will meet a critical market demand and will allow us to move to the next stage of growth.”

Rob Hilary, Investment Manager, South East for The FSE Group, commented: “We were impressed by the management team sector experience and excellent relationships in the industry. Ybrant has a clear opportunity to build innovative solutions for its growing pipeline of customers. We are delighted to be able to offer this funding and look forward to working with the team to ensure they reach their goals for growth.”

Jacinta George, Business Environment Lead and Board Director at Thames Valley Berkshire LEP added, “Our 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.”

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 a Growth Equity 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.

For more information about Ybrant Partners could help with HR and Finance IT transformation within your business, please visit https://www.ybrantpartners.com or email sales@ybrantpartners.com

Penryn-headquartered Inyanga Marine Projects has completed a £2m capital raise comprising a minority £0.8m equity investment backed by the Cornwall and Isles of Scilly Investment Fund (CIOSIF) and £1.25m debt facilities.

The equity investment round was led by The FSE Group (the appointed fund manager of CIOSIF) with investors including CIOSIF, French company SerEnMar’s Ship As A Service® (SAAS) and private investors.  Debt facilities are being provided by Cyan Finance and Lombard.

Formed in 2017 by Richard Parkinson, Inyanga Marine Projects provides expert operations services and engineering design within the offshore renewable energy sector (including tidal, offshore wind, wave and solar).

The sector is thriving as part of global moves towards a net zero carbon economy with Cornwall and the UK particularly active. Climate Change and creating a greener future is at the top of the agenda for this week’s G7 summit in Cornwall.

The investment is being used to fund the expansion of the business, including the purchase of DP2 Multi-Purpose Vessel, Inyanga Entsha, that will be based out of Falmouth.  Inyanga has a growing team of 15 professionals and is involved in some of the most ambitious offshore green energy projects including St Brieuc Offshore Windfarm, Minesto’s Holyhead & Faroe Islands installations and Sabella D10 tidal energy project.

Hervé Allaire of SAAS will be joining Inyanga’s company board as the two businesses embark on a closer partnership leveraging their complementary offerings. Martin Macey led the investment on behalf of FSE and will be joining Inyanga as Board Observer.

Richard Parkinson, CEO at Inyanga commented: “Martin and the team at FSE went above and beyond to help us plan and structure the capital raise.  Their commitment was evident throughout and we are delighted with the outcome.”

Martin Macey, Investment Manager at FSE Group commented “It is a privilege to work with Richard and the team at Inyanga which comprises some of the world experts in offshore renewables.  We look forward to helping scale this innovative business in such an important sector.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Ken Cooper, Managing Director at the British Business Bank, said: “Through the British Business Bank’s regional funds we are actively supporting businesses that are contributing to the UK’s low-carbon agenda. Inyanga Marine is a great example of that and we are delighted the fund has supported this deal.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Inyanga is part of a globally renowned offshore renewable energy supply chain in Cornwall. The region is on the cusp of significant developments in the floating offshore wind industry in the Celtic Sea, so this deal is very timely.”

Advisers on the transaction were: Field Seymour Parkes (FSE legals), Murrell Associates (Inyanga legals), Lang Bennetts (Inyanga tax) and Mylor Ventures (Inyanga corporate finance).

CIOSIF 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.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Warwickshire based manufacturer of energy storage solutions, Off Grid Energy, has secured a £1.25m investment to scale-up its operations, further developing its product offering whilst creating new jobs in the area.

Off Grid Energy secured the finance from The Midlands Engine Investment Fund (MEIF), provided by The FSE Group, Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The funding has enabled Off Grid Energy, to relocate to their brand-new state of the art 30,000sq ft premises, which features 150Kw Solar PV and is based in Stepnell Park, Rugby.  The resources support a step-change in the business to become a full production operation that will create 30 new skilled positions within the business whilst launching new products that will be supported by an extensive PR and marketing campaign.  The business will further establish its presence overseas with these new products.

Off Grid is a respected and trusted voice on energy efficiency and clean energy solutions, who continues to work towards a smart, decarbonised, decentralised energy system.

Janene Dooler, Joint Managing Director of Off Grid Energy, commented: “Our recent exciting relocation means that now all our energy needs are met by renewable sources and combined with having a private network on the estate, gives us the ability to develop our technology to the max. Since 2011, we have pioneered and become experts in providing smart, efficient power solutions which save money and significantly reduce carbon footprint in the temporary power sector. Our technology saves costs and has huge sustainability impact displacing the use of diesel generators reducing carbon emissions and tackling air quality issues. In emerging sectors, such as energy storage and EV charging, for those struggling with grid power, or where there is no grid available, we work with you to find the most cost-effective solution, with the least environmental impact, delivered in the shortest possible time. Our focus is to offer zero or net carbon neutral energy solutions. The funding received from MEIF via Chirag at The FSE Group, will enable us to grow and expand as a business, enabling high quality job creation to permit us to develop our products to enable us to achieve this goal.”

Chirag Mistry, Investment Manager, at The FSE Group, which manages the MEIF Debt Finance Fund adds: “I am delighted to be supporting Off Grid Energy through The FSE Group & The Midlands Engine Investment Fund. Off Grid Energy is an exciting organisation supporting the transition to low emissions and is a leader in this specialist sector. They are an experienced team making a real difference with their products and applications, serving a wide range of sectors across the UK. Off Grid Energy offers a glimpse of what the future will look like and how we can embrace technology to improve the environment now, not in 2030. The funding will enable Off Grid to retain, grow and develop its workforce boosting the local economy.”

Grant Peggie, Director, at the British Business Bank also added: “The MEIF is committed to supporting businesses that are contributing to the UK’s low-carbon agenda, alongside meeting wider key fund objectives. This latest investment highlights the strength of the Midlands in developing clean technology solutions and we will continue to help green and sustainable businesses grow and create new skilled jobs in the Midlands.”

Sean Farnell, board director at the Coventry and Warwickshire Local Enterprise Partnership, said: “An important focus of the CWLEP’s Strategic Reset Framework is innovation and green technology and Off Grid Technology is a perfect example of this.”

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.

West Midlands based cremation service provider has secured a £200,000 growth loan to expand its operations, purchase new equipment and create jobs in the region.

Chapter Response secured the funding from The FSE Group, Debt Finance fund through the Midlands Engine Investment Fund (MEIF).

The support will allow the Tipton-based business to expand its service to more UK locations. Two new electric ambulances, equipped with medical tracking software, as well as three refrigeration units will be purchased using the funding, with eight new employees also set to be recruited and trained.

Chapter Response is committed to creating a cremation choice which reduces funeral poverty, which currently affects 1 in 8 families. Many of whom are unable to afford the average traditional cremation costs of c£4,000. Specialising in unattended private cremation services has allowed the business to increase its efficiencies and pass on these cost savings to families. The firm’s team of ambulances and responders oversee unattended private cremation services and return the urn to the family home – allowing family members more time for their own celebrations commemorating their loved one.

Donna Baker, Founder and CEO of Chapter Response, commented: “We are pleased to be able to expand our service to reach more areas in the UK. Having been in the industry for over 20 years, we recognise the individuality of each and every end-of-life celebration to reassure families that their loved one is in capable, responsible and respectful hands. It’s been a positive experience working with Kerry, helping us to secure the funding required for the next stage of the business’s journey.”

Kerry Haughton, Fund Manager, at The FSE Group, which manages the MEIF Debt Finance Fund adds: “We are proud to have supported Chapter Response with its service expansion plans across the UK.Donna’s understanding of the funeral business demonstrated to us the strength of Chapter Response and helped to secure the investment. Through the Midlands Engine Investment Fund, The FSE Group is committed to providing finance to Midlands’ businesses with the potential to grow. We look forward to accompanying Donna and her team for the next phase of their development.”

Paul Brown, Black Country LEP Board Member, said: “We are delighted to see the MEIF supporting businesses across the Black Country, particularly when this increased capacity will support expansion across the UK. The MEIF aims to support businesses in scaling up, with a focus on companies like Chapter Response which have real potential for growth.”

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