Sustainable tech business receives funding from MEIF II

Derby-based Circulayo, a company transforming the reusable plastics sector that help businesses reduce single-use plastics, has secured debt funding through MEIF II Maven Debt Finance for the East and South East Midlands. The funding will support Circulayo as it expands into new sectors and regions, invests in its technology and develops its sales and marketing activities, while creating 20 new jobs to help increase its geographical reach in the region and grow its customer base. 
     
The business works with clients in several sectors including sports, education, healthcare, hospitality, and retail, helping them transition to circular economy practices. Circulayo’s solution helps businesses reduce waste, save on costs, and meet environmental, social, and governance (ESG) goals.

Circulayo’s impressive customer base includes Derby County Football Club, University College London and more recently, the University Hospital of Derby and Burton NHS Foundation Trust.

Andy Flinn, CEO at Circulayo

“Maven have been incredibly supportive to our Company. Sajid provided a great depth of understanding for our mission and was a guiding light through the process to achieve this important strategic funding.”

Andy Flinn, CEO at Circulayo

"Circulayo is committed to sustainability and the transition away from single-use plastics. The company’s innovative technology and success with key customers position it strongly for continued growth. We’re pleased to support Andy and the team as the business expands both its customer base and geographical reach, creating new jobs and further driving the shift towards a more sustainable future.”

Sajid Sabir, Investment Manager at Maven

"The Midlands Engine Investment Fund II was established to offer alternative financing options for innovative, growth-focused SMEs in the Midlands. It’s great to see the Fund supporting innovation in the region, and this investment in Circulayo will enable the company to scale up and help drive a reduction in single use plastics."

David Tindall, Senior Investment Manager at British Business Bank

Through MEIF II - Debt Finance East and South East Midlands, Maven can provide flexible finance options to address a variety of business needs, including enhancing working capital, purchasing new machinery, capital expenditure, export finance, product development, and team expansion. The Fund has supported a number of businesses across the region to date, including Advance Tapes, a specialist adhesive tapes manufacturer, DUKE Distribution, a logistics and trackway installation provider and a sports hospitality specialist, Vision4Sport.

As Fund Manager of MEIF II - Debt Finance East and South East Midlands, Maven can provide business loans from £100,000 to £2 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is looking at debt finance as a solution to fund future growth please click here.