- Type of finance
Equity and loan
- Business need
Growing a business
“The leasehold becoming available on our new office site was a brilliant opportunity to secure a permanent base in the town and expand our growing business. The development bank were able to support us quickly, enabling us to take full advantage of a timely opportunity.”
Bridgend-based Mazuma offers online and remote accountancy and bookkeeping services to small businesses across the UK.
Mazuma has received several rounds of funding over the years from the Development Bank of Wales, and previously Finance Wales, the Development Bank’s predecessor.
With the help of a £135,000 loan, Mazuma purchased the leasehold of new offices at Dragon House, Bridgend. A further £190,000 loan was then provided to assist with the refurbishment of the new premises.
The long-term savings made from owning their own premises rather than paying rent will allow Mazuma to reinvest back into the business and expand further.
Mazuma has recently secured additional growth capital from a syndicate of professional investors, alongside equity investment from the Development Bank.