Subscription service Buckt has won a six-figure funding package from the Midlands Engine Investment Fund (MEIF) to help it expand its services and create jobs.
Birmingham-based Buckt says it will use the £350,000 investment to employ partnership managers to help it scale its supply chain and consolidate its position in key cities.
Buckt serves more than 4,500 customers across Birmingham, Manchester, London, and Liverpool. The tickets and activities subscription service picks activities in each region and sends its subscribers five mystery tickets at a fixed price every month.
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MEIF is managed by Midven, part of the Future Planet Capital Group.
Giovanni Finocchio, investment director at Midven, said: "As the country emerges from lockdown, we’ve seen the pent-up demand for entertainment, and Buckt provides this in spades. The subscription model provides value to customers and reliable bookings for venues bouncing back from the toughest trading conditions in living memory. We are looking forward to working with Dan and the team.”
Daniel Bridgewater, chief executive of Buckt, said: "We’re delighted to be continuing our journey to become market leaders with Midven’s backing. The investment will allow us to expand our team, level-up our product and significantly scale our operations.
"By improving the quality of service we offer, we want to solidify our place in key cities across the country to create ground for expansion in the future. We believe our valuable partnership with Midven will allow us to reach our goals.”
Mark Wilcockson, senior investment manager at the British Business Bank, added, “Buckt offers an innovative approach to the leisure and hospitality industry and the MEIF funding will support the company’s expansion, while also creating new jobs in the Midlands. The MEIF continues to support innovative companies looking to unlock growth opportunities and I would encourage other Midlands-based businesses to consider MEIF funding.”
Vernon Hogg, access to finance manager, Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) Growth Hub, said, "GBSLEP Growth Hub provides a free service to SMEs across the region who wish to raise finance to grow their business. I supported the Buckt team by preparing them and identifying potential pots of funding.
"As they scale up their operations, I hope that they can continue to work with the Growth Hub and take advantage of our business support services.”
