The Development Bank of Wales has invested £35,000 in Brynrefail-based RAW Adventures, a mountain activity company run by husband and wife Kate and Ross Worthington.
The micro-loan is the second investment by the Development Bank in the company, having previously supported the business during the Covid-19 pandemic. The office team of five are all qualified leaders and instructors. They regularly work with individuals as well as charity and corporate groups of all ages and abilities, operating Climb Snowdon days, guiding on Welsh 3000s challenges and offering bespoke mountain adventures in Eryri and throughout the UK. RAW also supports all aspects of the Duke of Edinburgh’s Award Expedition section and Gold Award Duke of Edinburgh residential weeks.
The £35,000 micro-loan from the Development Bank is being used to invest in further developing their Charity Partner Programme, additional storage for equipment and to help fund the application process for B Corp Certification.
Director Ross Worthington said: “We love to plan bespoke adventures, as well as offering more well-known routes and summit days for our clients. We already work closely with a range of charities who use our services as fundraising opportunities at no cost to themselves and this investment will help us grow this offer those most hit in the last few years like hospices.
“We would not have survived the pandemic ourselves without the support from the Development Bank during that period, let alone be growing the business and taking further steps to manage and improve the positive impact we have on our environment and community. This latest loan will enable us to really move forward and continue to lead the way in outdoor adventures. It’s a great boost for us all and we really appreciate the vote of confidence in what we do.”
Mal Green is a Portfolio Executive with the Development Bank. He said: “RAW Adventures is a purpose driven business on a mission. The team share a deep commitment to high standards of performance, accountability and transparency which are all factors that underpin our investment decisions, so it is particularly rewarding to see them flourish in this very special part of Wales.”
The micro loan for RAW Adventures came from the £500 million Wales Flexible Investment Fund. Financed by Welsh Government, the Fund is for deals between £25,000 and £10 million. Loans, mezzanine finance, and equity investments are available for Welsh businesses with terms of up to 15 years.
