The team at Capital advised Bridgend-based accountancy disruptor firm Mazuma on its growth funding from an experienced syndicate of professional investors alongside its incremental funding from existing capital provider, Development Bank of Wales.
The investment comes as the business – which specialises in providing wide ranging accountancy services to sole traders, the self-employed and small limited companies – is driving expansion plans and is developing its already fast-growing client base.
With the Making Tax Digital legislation changing the way businesses do their taxes, Mazuma anticipates an even further growth hike, and has made a number of senior appointments to implement their growth strategy.
Ashley Cooper, founder of Catalyst Growth Partners and smart capital provider, joins the Board as Chairman and lead investor for the syndicate, while Iridium Corporate Services founder Mervyn Ham takes up a non-executive director role. Mazuma’s own practice manager, Danielle Lewis, was also promoted to the role of director of operations.
Lucy Cohen, Co-founder of Mazuma, said:
“Working with Capital Law was more than just getting the deal over the line for us. It involved restructuring the business and making sure that we were set for the future. Capital Law made the process painless. They communicated regularly throughout the deal as it progressed and passionately argued and negotiated in favour of our business where we needed it. Not only did we get the desired outcome, but on a personal level I felt like they genuinely cared about us as clients. They could look at the bigger picture and work to build a lasting relationship with us. I look forward to a fruitful relationship with them in the future.”
Laura Spendiff, Corporate Associate at Capital Law, said:
“This was a great project to be involved in, not least because Mazuma was already a success story. Lucy and Sophie, two old school friends, set up Mazuma in 2006 and their fresh take on accountancy has proven to be a winning formula. It was encouraging to see innovative female entrepreneurs get the support they deserve – although the investment landscape is changing for the better, frustratingly, this is not always the case. On a personal note, I thoroughly enjoyed working with Lucy and Sophie and I look forward to watching Mazuma continue to grow, and to supporting them on their exciting journey.”
Find out more about Mazuma here.