A Somerset craft cider maker has expanded its production to supply pubs, bars and retail across the UK, thanks to a £35,000 cash injection from the South West Investment Fund via fund manager SWIG Finance.
Somerton-based Pulpt prides itself on using only freshly pressed apples from across Somerset and Devon to produce a range of eye-catching cider brands that are appealing to Gen Z customers nationwide, and have earned listings with Ocado and Tesco.
And it’s all made from an unassuming unit near Somerton. “People drive past every day, and they have no idea we’re in here, making fantastic cider that’s sold across the country,” says company co-founder Jim Wakefield.
Jim met business partner Al Collar while working in the corporate world. “We were both a little bit jaded by the behaviours we were seeing,” said Al. “We thought it would be nice to pool our resources and do something where we felt more connected to the mission of a small organisation, and the values that were naturally more important to us – honesty, fairness, sustainability, respect – from suppliers through to customers.”
While the pair brought different skill-sets to the business – Jim from finance, Al from HR – neither had experience of commercial cidermaking. But having identified the market as “a real opportunity to push the category forward”, they took a leap of faith in 2017 and invested in the bespoke small-scale equipment that would enable them to press and ferment local apples.
Seven years later, a loan from the British Business Bank’s South West Investment Fund enabled the pair to invest in new equipment, allowing them to extract more liquid from the same number of apples, alongside two large stainless steel tanks, increasing capacity and efficiency. This debuted to great effect with the 2024 season. “It meant we could go for larger contracts knowing we could supply them,” said Al.
“That’s the value we were able to drive thanks to SWIG and the South West Investment Fund“, added Jim. “SWIG cared about what we were trying to achieve and looked at us through the lens of a small business trying to grow. They showed an interest in us as our business, rather than a profit opportunity with a computer saying yes or no – and the rates were clear and transparent.”
SWIG Finance business manager Rachel Thomson said she was bowled over by the product. “I liked the provenance and the traceability,” she said. “
The directors are experienced in business and are running a tight ship. Their expansion will help create good quality jobs in this rural area in the future.”
David Tindall, Senior Investment Manager at British Business Bank, said: “The South West Investment Fund is here to drive sustainable growth and innovation, and in Pulpt we have a craft cider maker that is committed to local sourcing and tapping new markets by putting a modern take on a traditional product.”
The South West Investment Fund is operated by the government-backed British Business Bank and offers a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million. The fund covers the entire South West region and SWIG Finance manages the smaller loans part of the fund, up to £100,000.
The Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
Find out more about Pulpt at www.pulpt.co.uk, and about SWIG Finance at https://www.swigfinance.co.uk/.
Main image: Al & Jim from Pulpt.
