NPIF II Maven Equity Finance invests £1 million in Tiba Tempeh

NPIF II - Maven Equity Finance has invested £1 million in fast-growing plant-based food business, Tiba Tempeh. The investment will support Tiba to invest in marketing, sales and further product development, with exciting new products lined up to launch in 2025.

Founded in 2019 by Alex and Ross Longton, Tiba Tempeh is a certified B-Corp that has grown rapidly in the plant-based food market, where consumers are demanding more natural and nutritious products. Headquartered in Newcastle, Tiba Tempeh’s products are available in major UK and European supermarkets including Sainsbury’s, Morrisons, Ocado, Carrefour and Leclerc. The business is now gearing up for further UK and European expansion.

As consumers continue to move away from ultra-processed foods and with many people now either avoiding or reducing their meat consumption, tempeh is now one of the fastest growing meat-free segments on the market.

The business offers a range of innovative tempeh products including an Original Block, Plant-Based Mince, and a range of Marinaded Pieces that provide a meat-free solution for everyday meals. Unlike most meat alternatives, Tiba Tempeh is made from 100% natural and organic ingredients and is high in protein and fibre, gut-friendly, 1 of your 5 a day, vegan and gluten-free.

From L to R: Sarah Newbould, Senior Investment Manager at British Business Bank, Rebecca MacDermid, Investment Manager at Maven, Ross Longton, Co-Founder and Marketing Director at Tiba Tempeh and Alex Longton, CEO and Co-Founder at Tiba Tempeh.

"Maven will add significant value to further scale our business and help us on our mission to create a healthier world by inspiring people to eat more naturally healthy and sustainable plant-based foods."

Alex Longton, CEO and Founder at Tiba Tempeh

“Tiba Tempeh is an exciting brand in a growing market, driven by increasing demand for less processed, healthier meat-free alternatives with higher nutritional and protein content, qualities that Tiba’s products deliver. Alex and Ross are a fantastic team and bring a wealth of experience coupled with their passion for healthy, sustainable food alternatives will allow the business to experience continued success. We are pleased to support the next stage of their growth as they scale operations and expand their market presence across the UK and Europe.”

Rebecca MacDermid, Investment Manager at Maven

“Access to healthier food options is a fast-growing market, and we are excited to see how this equity investment will give Tiba Tempeh the capabilities to launch its new products, with further expansion nationwide and into Europe. The Northern Powerhouse Investment Fund II provides important funding to support businesses like Tiba Tempeh with their growth plans.”

Sarah Newbould, Senior Investment Manager at British Business Bank

This marks the latest investment made by NPIF II Maven Equity Finance, showcasing Maven’s strong track record of identifying and nurturing high potential businesses, as well as the opportunity in the North East of England to drive innovation and growth. The Fund has also backed FinTech specialist, Kani Payments, food and beverage canning business, CRL Foods, solar film technology specialist, Power Roll, and Radio-frequency identification (RFID) innovator, PervasID.

NPIF II - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >