Published: Oct 11, 2022
Focus: MEIF Maven Debt Finance
Devoted Pet Foods has received £250,000 of funding from MEIF Maven Debt Finance. The business, which was founded in 2012, offers a healthier alternative to other well-known pet food brands and supplies products across the UK and internationally.
The company offers a range of over 30 foods and treats for cats and dogs, with its unique selling point being that its products have a high meat content and contain no grain or cereals, compared with other low-cost pet foods that limit the nutritional value for pets and increase the risk of digestive issues.
The funding boost will support the creation of a marketing strategy to help the company reach a wider audience, build its brand presence, and attract more customers. It will also support the business in hiring new staff to facilitate its growth and expand its capabilities.
“With pet-owners becoming increasingly conscious of the health and nutrition of their pets, Devoted Pet Foods is extremely well positioned to continue its growth by providing market-leading products that satisfy demand.”
Chris Rogers, Investment Manager for Maven
“Given that there are now over 10% more dogs and cats within the UK prior to Covid, we sought investment from Maven to capitalise on the booming sector within pet food, which is premium foods and treats. This investment will allow us to expand our range and staff and we are delighted to partner with Maven who understood our business and shared our vision for expansion.”
Tom Kibble, Founder of Devoted Pet Foods
“The MEIF continues to support Midlands-based businesses, with nearly 800 investments made since its creation in 2017. This funding is a great example of how MEIF can be used to support the growth of companies such as Devoted Pet Foods.”
Mark Wilcockson, Senior Investment Manager at the British Business Bank