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23rd August 2018

Maven leads £500,000 funding for Serene Furnishings

West Bromwich-based furniture wholesaler to diversify its innovative product portfolio and upgrade IT systems to accelerate its next phase of growth

Maven Capital Partners (Maven), has provided Serene Furnishings Limited (Serene Furnishings), one of the UK’s leading furniture wholesalers, with a £250,000 injection from its MEIF WM Debt Fund, supported by an additional £250,000 of funding from HSBC.

This investment is to support the firm’s ambitious growth strategy, focused on diversifying its product portfolio, upgrading IT systems and creating three new jobs at its West Bromwich site.

Established in 2005, Serene Furnishing has in recent years expanded its offering from the original core business of supplying bedroom furniture to now include a broader range of living room products. A process that it plans to continue following this £500,000 investment as it makes further improvements to its product buying programme.

The investment in Serene Furnishings follows the announcement that Maven has been appointed to manage the £50m MEIF WM Debt Fund, which provides debt finance of between £100,000 and £1.5million, to high-growth potential SME businesses located in the West Midlands.

Steve Lewis, Investment Director at Maven, said:

We are delighted to support Serene Furnishings’ growth with this investment. The deal is a great example of how the MEIF finance can work alongside an existing lender to provide a flexible funding package to support local job creation and business expansion.

“Serene Furnishings is a well-established business driven by a highly experienced senior management team and we look forward to working with the company as it enters a new growth stage.”

Supplying a number of national retailers, including Wayfair Stores and Dunelm, Serene Furnishings has achieved strong success following its diversification into wider living furniture – tapping into a market that recorded £17.7 billion of purchases in 2017.

Tasleem Tasab, Managing Director at Serene Furnishings, said:

“The funding will enable us to capitalise on a wider product offering, unlocking several new markets and continuing our upward trajectory as a firm. We are excited about our future prospects and look forward to working with the team at Maven to fully exploit the opportunities available to the business.”

Grant Peggie, Director at the British Business Bank, said:

“It is encouraging to see how MEIF is supporting the growth of Serene Furnishings in West Bromwich including new investment into the firm’s IT systems and operations. It is also good to see that new jobs are being created in the Black Country as the company continues to diversify into new markets and grow”.

The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

Find Out More

If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

Small Business Loans

£25k – £150k

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debt finance

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£100k – £1.5m

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equity finance

Equity Finance

£50k – £2m

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Proof of Concept

Up to £750,000

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Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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