Tech firm’s growth plans given six-figure boost

The growth plans of tech firm Truly SMB have received a boost after securing a six-figure debt finance package.

The business, which provides IT, cybersecurity and application services, has secured the backing from the British Business Bank’s Midlands Engine Investment Fund II for the East and South East Midlands, managed by Maven Capital Partners.

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 delivers the TrulyFIT programme, a structured training solution designed to help businesses adopt AI and digital tools effectively.

Led by Vicky and Brett Critchley alongside chief executive 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 chief executive 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.

Vicky, executive chair of Truly SMB, said: “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.”

Richard Brighty, investment manager at Maven, said: “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.”