Technology firm Truly SMB secures funding from Maven through MEIF II

Truly SMB, a technology business helping small and medium-sized companies, has received a six-figure debt finance investment from the British Business Bank’s Midlands Engine Investment Fund II through appointed Fund Manager for the East and South East Midlands, Maven.

Founded in 2024, Truly SMB helps SMEs harness Microsoft technologies, including AI tools such as Copilot, through tailored, subscription based support that makes enterprise level innovation accessible at a lower cost. The business provides IT, cybersecurity and application services, alongside its TrulyFIT programme, a structured training solution designed to help businesses adopt AI and digital tools effectively.

Led by Vicky and Brett Critchley alongside CEO Tim Rookes, the senior team has a proven track record in scaling technology businesses. Vicky and Brett previously led Bam Boom Cloud, which was acquired by Pax8 in February 2023 and was a Microsoft Partner of the Year, including Global Partner of the Year for Dynamics 365 Business Central in 2022. 

Tim was Founder and CEO of True MSP, which was acquired to help create Truly SMB. Their new venture, Truly SMB, builds on this experience by supporting SMEs across the UK, US and Canada to adopt Microsoft and AI technologies securely and efficiently.     

The funding from the Midlands Engine Investment Fund II will provide additional working capital following the recruitment of a senior management team drawn from across the Microsoft ecosystem. The business also plans to explore strategic acquisitions to enhance its service offering and expand its customer base.

The deal was introduced to Maven by Dan Bowtell of Tenet Advisory.

Jenny Moore, Chief Financial Officer, and Brett Critchley, Chairman

“This funding is a huge vote of confidence in what we’re building. Too many Small Medium Businesses (SMBs) know AI and digital tools could transform their business but feel locked out by cost or complexity. We’ve built Truly SMB to smash that barrier – to make world-class Microsoft and AI capability practical, secure and genuinely affordable. This investment lets us scale faster, back even more customers, and push the boundaries of what smaller businesses can achieve."

Vicky Critchley, Executive Chair of Truly SMB

“Brett, Vicky and the team have an exceptional track record and a clear vision for how AI can transform the way small and medium-sized businesses operate. They understand the challenges SMEs face when adopting new technology and have built a model that makes innovation accessible and practical. We’re really pleased to be supporting them through MEIF II as they continue to grow."

Richard Brighty, Investment Manager at Maven

“As more small businesses look to incorporate AI into their daily operations, it is encouraging to see Truly SMB lending much needed support and expertise. By using funding from the Midlands Engine Investment Fund II to help them scale, they are helping make AI more accessible while strengthening the cybersecurity and IT support available to small businesses. Technologies like this that support small businesses will be vital to help the region’s entrepreneurs keep pace."

David Tindall, Senior Investment Manager at the British Business Bank

This latest investment adds to a growing list of businesses backed by MEIF II - Debt Finance East and South East Midlands. To date, the Fund has backed a diverse range of businesses including, Acres Insurance Brokers, a special agricultural insurance broker, Sleaford Building Services, mechanical, electrical and construction contractor, Lemon and Lime, a home staging business, TextureJet, a DeepTech firm, Sunset Commercial, a commercial brokerage business, Panoramix, an IP law firm, Advance Tapes, an independent adhesive tapes manufacturer, DUKE Distribution, a logistics and trackway installation provider and Vision4Sport, a sports hospitality specialist.

As Fund Manager of MEIF II - Debt Finance East and South East Midlands, Maven can provide business loans from £100,000 to £2 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is considering debt finance to support future growth please, click here.