Bright future for Lightbulb following £500,000 investment boost
Foresight Group, the private equity investment manager, has announced a £500,000 investment from the Midlands Engine Investment Fund (MEIF) into Derbyshire-based Lightbulb Credit.
Founded by James Piper in 2018, Lightbulb provides UK companies with the opportunity to improve their credit ratings with the main UK based credit agencies. The company is based in Long Eaton where it employs six people.
Foresight’s investment will enable Lightbulb to expand its reach, improve its service offering and target new customers. Foresight’s Private Equity portfolio companies have previously used Lightbulb’s solutions.
James Piper, CEO of Lightbulb, said: “We’re delighted to receive funding and support from Foresight and the Midlands Engine Investment Fund. We see this as being a real catalyst for our growth and expanding our reach.”
Ray Harris, director based in Foresight’s Nottingham office, added: “We were amazed by the service provided by Lightbulb. James and the team have built a fantastic business and we look forward to supporting them on their next stage of growth.”
Keira Shepperson, director, regional funds at the British Business Bank, said: “The Midlands Engine Investment Fund fuels growth to support innovative SMEs across the Midlands that strive to create products and services to fill market gaps. MEIF’s investment in Lightbulb will enable the company to grow and reach a new customer base to benefit from services it provides.”