Funding will be used to accelerate growth plans by expanding the company’s product and service portfolio and creating 12 new jobs in the region
Leicester-based Furnley House Limited (Furnley House), a firm of independent financial advisers and mortgage brokers, has received a £200,000 investment from the Midlands Engine Investment Fund (MEIF).
Delivered by Maven Capital Partners, the funds will be used by Furnley House to support the next phase of its growth, developing its product and service offering and allowing the firm to expand its team – creating an additional 12 new jobs in the Midlands.
With more than 3,000 customers, Furnley House provides both business and private clients with a range of services from investment advice and management, financial planning, pension management and mortgage broking.
The firm is run by an experienced management team, including Senior Financial Planner and Director Neil Haley. To support further growth, three non-executive directors have been hired, widening the areas of expertise across the management team.
Neil Haley, Director at Furnley House said, “We are thrilled to receive funding from MEIF Maven Debt Finance. This is a really exciting time for the business and the investment will enable us to continue growing at a rapid rate by giving us the opportunity to hire additional advisors and support staff.
“We’re a business that lives by our values with client centricity being our main focus. Everything we do is with clients in mind, the firm’s growth plans aim to improve products, services and the overall client experience which will help us maintain high retention rates.”
Jonathan Lowe, Investment Director at Maven said: “Furnley House is a profitable, ambitious business with a capable management team, looking to scale-up. It is exactly the sort of business that MEIF Debt Finance was created to support. We are delighted to help Furnley House achieve its growth plans and continue to contribute to economic development in the East and South-East Midlands.
Lewis Stringer, Senior Manager at the British Business Bank said: “It’s great to see finance from the Midlands Engine Investment Fund being used to support business growth. Funding expansion projects and providing opportunities to recruit new staff are just a couple of examples of the ways finance from the MEIF can be used. With that in mind, we encourage any small business in the Midlands looking to grow to check out the options available through the MEIF.”
Kevin Harris, Chair of the Leicester and Leicestershire Enterprise Partnership, said: “Sound financial advice, mortgage brokering, and pension management are cornerstones of our growing economy here in Leicester and Leicestershire. Furnley House epitomises the qualities needed to be successful in this sector, through both its professionalism and profitability. I’m pleased to see Furnley House granted this MEIF funding, which will secure its growth into the future.”
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.