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 RM1, its first model, became the UK's best-selling electric two-wheeler, and the RM2 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
