Maeving secures £3m trade finance to fuel US and European push
What's the deal? Coventry-based electric motorbike maker MaevingDealroom has a profile for this one. Try Dealroom → has secured a £3m trade finance facility, backed by UK Export Finance (UKEF)Dealroom has a profile for this one. Try Dealroom →, to expand into new markets. The company received the financing from HSBC UKDealroom has a profile for this one. Try Dealroom → to invest in production capacity.
What's the endgame? Maeving plans to meet growing demand in the US, Germany, and France, with further European markets to follow. The US$0.24, its first model, became the UK's best-selling electric two-wheeler, and the US$0.48 became the first British-made electric motorbike built for two.
Why now? Founded in 2018 by Will Stirrup and Seb Inglis-Jones, the company hit a familiar scaleup bottleneck. "As a small business, we found the more we grew, the more cash we needed — which was holding us back," Stirrup said.
The facility came together after Maeving and UKEF representatives met at an Innovate UKDealroom has a profile for this one. Try Dealroom → event in early 2025. UKEF then worked with HSBC UK, the company's bank, to agree the terms.
The signal: UKEF is leaning into clean-tech exporters. Over the last financial year, it provided more than £11bn in loans, guarantees, and insurance to help UK companies export and grow, supporting up to 85,000 jobs and contributing up to £6.4bn to the economy.
Read more: Insider Media
Image credit: Straypuft
