• Swindon & Wiltshire Economy
• Monday September 9 2024
• Author Name: Peter Davison

Digital consultancy secures £1.6 million funding as British Business Bank celebrates £5 million lending milestone

Bristol-based digital consultancy Changing Social has received £1.6 million funding from the British Business Bank to expand its operations across the UK and internationally.

Founded in 2018 by Steve Crompton and Georgie Kemp, the Microsoft Partner supports businesses with the adoption and integration of Microsoft products and new ways of working, including Microsoft 365, the Power Platform, and enterprise generative AI.

The investment, delivered through the British Business Bank’s fund manager Maven Capital Partners, will be used to invest in its delivery and sales teams at its new and expanded Bristol headquarters.

Luke Matthews, partner at Maven Capital Partners, said: “We’re delighted to invest in Changing Social, making it part of our growing portfolio in the South West.

“From its base in Bristol, it has a track record of working with clients across the UK and US, and is an example where an experienced, ambitious management team with a people-first ethos was a clear attraction for investment.

“The South West Investment Fund was set up to support local businesses like Changing Social, a business with huge growth potential based in the heart of our region, and we are excited to support Steve and his team as they look to grow further.”

Steve Crompton, CEO at Changing Social, added: “Partnering with Maven Capital Partners and the South West Investment Fund marks an exciting new chapter for Changing Social.

“This investment will enable us to scale our operations, enhance our service delivery, and expand our reach both domestically and internationally.

“We are committed to helping organisations unlock the full potential of their Microsoft investments, and with this support, we can drive even greater impact and innovation in the AI and digital transformation space.

“We are grateful for Maven’s confidence in our vision and look forward to a successful collaboration.”

The British Business Bank announced this week it had delivered £5 million equity funding in between April and June to 10 South West businesses through its fund managers Maven Capital Partners and FSE Group.

Another business to secure equity funding is Bristol-based Kelpi, which is developing a seaweed-based alternative to plastic packaging.

It received £500,000 in funding via Maven to take its pioneering technology to market as part of a £4.3m funding round.

Jody Tableporter, director at the British Business Bank, said: “The South West Investment Fund is designed to provide crucial funding that empowers growth in businesses across the region.

“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.

“We are delighted that several businesses capitalised on this opportunity in the last quarter, securing over £5m in equity investment through our funding partners.

“We encourage any business considering its next step to explore how the South West Investment Fund could unlock new potential.”

Pictured: Luke Matthews (Maven), Steve Crompton (Changing Social) Lizzy Upton (British Business Bank)

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