CCR-Backed Fintech Mazuma Praised by Minister for Innovation and Growth
Bridgend-based fintech company Mazuma has received high-level recognition following significant growth, supported by investment from Cardiff Capital Region’s (CCR) Innovation Investment Capital (IIC) fund.
Anna McMorrin MP, Parliamentary Under-Secretary of State for Wales, visited Mazuma to see first-hand how the CCR-backed funding is driving innovation, job creation, and economic development in South East Wales.
Founded by Lucy Cohen with just £100 and a laptop, Mazuma has grown into a leading disruptor in the digital accountancy space, serving thousands of small businesses across the UK with innovative, technology-driven solutions.
Mazuma received backing from CCR’s £50 million IIC fund, which supports scalable, innovation-led companies with long-term growth potential across the region.
Kellie Beirne, Chief Executive of CCR, praised the company’s achievements, saying:
“Since the investment, Mazuma has achieved significant milestones, including rapid growth in headcount, accelerated technology development and industry recognition. The company now serves thousands of small businesses and continues to challenge traditional accountancy models.
This is a powerful example of how strategic regional investment, combined with bold leadership and innovation, can deliver lasting economic and professional impact.”
Lucy Cohen, founder of Mazuma and Board Member of Fintech Wales, shared:
“It’s been a real rollercoaster. Since the investment, we’ve more than doubled in size, with the majority of the new jobs created being in and around Bridgend. Our technology has advanced faster than we ever anticipated, putting us in a category of our own within the industry.
On a personal note, I’ve also become President of AAT, one of the UK’s leading accounting bodies, as its youngest ever President. And for Mazuma, it’s been an incredible year, with multiple award wins and continued growth.”
Minister Anna McMorrin MP added:
“It’s fantastic to see how UK Government-backed investment is helping to drive economic growth and create new jobs that put more money in people’s pockets.
We want businesses like Mazuma to thrive and contribute to Wales’s growing reputation for high tech innovation and entrepreneurship.”
Reflecting on Mazuma’s impact on the local economy, Cllr John Spanswick, Leader of Bridgend County Borough Council, commented:
“Mazuma is a shining success story in Bridgend and demonstrates what innovation and hard work can achieve along with support and funding from CCR. Mazuma works across the UK helping small to medium businesses to thrive, and as a local business, we are very pleased to have been able to support them.”
Mazuma is a proud member of Fintech Wales, and Lucy Cohen plays a vital role on the Fintech Wales Board of Directors.