MEIF funding deal for Luxury Cottages
Summary
A provider of high-end holiday rental cottages has secured a new round of funding to support its growth and create 24 jobs.Birmingham-based Luxury Cottages, which was founded in 2019, will use the \xa3500,000 to increase its presence across the UK with staff based in each major tourist area.The fresh capital has been provided by The FSE Group Debt Finance Fund, part of the Midlands Engine Investment Fund (MEIF).This latest investment follows more than \xa31 million in equity funding previously raised through Birmingham-based venture capital firm Midven, also via the MEIF.Sign up for your free West Midlands newsletter and follow us on LinkedIn BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire. Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates. For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here.Luxury Cottages chief executive Alistair Malins said: "Over the last three years of challenging market conditions, weve built a strong brand position and a reputation for excellent customer service. "Ryan Cartwright, investment manager at The FSE Group, added: "This is a truly exciting time for Luxury Cottages. "The current team has a proven track record of success and the forthcoming new hires will bolster the companys dynamic and determined ethos.