A Bristol-based climate technology business, Map Impact, has received a £250,000 loan boost from SWIG Finance, aimed at propelling its environmental mission onto the global stage. Map Impact specialises in developing Earth Observation products to meet the rising global demand for statutory and regulatory environmental compliance reporting.
The company was launched in 2023 by four industry colleagues – CEO Rich Flemmings, COO Chris Burnett, CCO Steve Keohane, and CFO Paul Ryder. This initiative was spurred by legislation, effective from February 2024, mandating the monitoring of biodiversity on new housing developments over a 30-year period.
Map Impact’s readily available services also enable companies to build resilience against climate challenges, including floods, droughts and wildfires.
Paul Ryder described SWIG Finance as “providing the lynchpin between seed capital and larger investors,” adding: “For us to achieve growth there was a missing link which the traditional commercial banking institutions do not provide, and only SWIG came up with the solution. SWIG also conducted a strenuous forensic analysis and due diligence on the business which provides credibility and significant reassurance to new investors as we approach the next round of funding: venture capital. It’s fair to say that without SWIG Finance, we wouldn’t be able to progress to the next stage.”
Map Impact will utilise the funding to recruit ten new full-time staff initially, allowing it to extend its national dataset approach to countries including France and Germany. Potential customers include risk management professionals such as insurance brokers, mortgage providers, solicitors, and conveyancers.
Nicola Parker, senior business manager at SWIG Finance, said: “This business is relatively new but has nonetheless been successful in developing its offer and securing key partnerships, largely on the back of an innovative product and being reactive to changes in the market. Consequently, Map Impact has a great opportunity to develop its position in the marketplace and to continue to expand its offer at a time when the global climate and its relationship with the human lifestyle is at the forefront of discussion.”
Image soource: Map Impact (L-R: Chris Burnett (COO), Richard Flemmings (CEO), Paul Ryder (CFO), Steve Keohane (CCO))
