Fuel Accountancy Services has moved into new waterfront premises as a signal of strong times ahead for the business.
The Plymouth firm was set up by Richard May and Simon Richards in 2018 and provides full-service accountancy and taxation support to SMEs in West Devon and East Cornwall. It supports a diverse range of established businesses in the area, including pubs, motor dealers and the building sector. Employing nine people overall, it expects to grow its team further in 2024 following the move.
Its new headquarters is in Neptune Park, near Plymouth’s iconic Barbican waterside neighbourhood. Fuel made the purchase with the support of challenger bank, Allica Bank, which specifically focuses on providing no-nonsense banking to established businesses.
Talking about the move, Co-founder and Director Simon Richards said, “As Fuel continues to grow, we needed to find a new, larger space for us to work from. This premises is modern and more energy-efficient, making it the perfect place to become our new home.
“We’re incredibly grateful to Allica for helping us purchase the property and realise this next stage of our growth. We had been trying to get a mortgage from a high-street bank for three months and nearly lost out on the opportunity. Whereas Allica made us an offer seven days after we made an application.”
Fuel’s Relationship Manager at Allica Bank, Matt West, said, “Fuel have a fantastic relationship with Plymouth’s business community. Their pro-active approach has helped them become incredibly successful. I’m really proud that Allica can become part of that journey and hopefully I can be seen as part of their wider team as our relationship grows.”
About Allica Bank
Business banking isn’t working. Allica Bank is on a mission to change that. Allica is the UK’s only full-service bank dedicated to serving established businesses – those SMEs the heart of the economy with between 10 and 250 employees, who are overlooked and underserved.
In 2023 Allica was named the UK’s fastest-growing technology company in Deloitte’s 2023 UK Technology Fast 50 – with annual revenue growth that makes it the fastest-growing fintech company ever.
Allica offers the services they need, bringing specialised knowledge, products, tech, and local, human expertise and is quickly disrupting the UK’s SME banking market. It offers dedicated SME business banking products, including commercial mortgages, asset finance, a new proprietary business rewards account and a range of savings accounts.
Allica’s ambition is to gain 10% market share in the next five years in order to help change the SME market for the better.
Allica is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Financial Services Register Number: 821851.
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