NAME OF ORGANISATION: Effervescent
LOCATION: Devon
YEAR FOUNDED: 2012
ABOUT: Effervescent brings together children and young people to design and deliver award-winning transformational campaigns with impact.
INVESTMENT PURPOSE: The investment was used to employ some additional key staff as well as to expand the offering from its Plymouth premises.
INVESTMENT AMOUNT: £150,000
DATE OF INVESTMENT: January 2019
SOURCE OF INVESTMENT: Health & Wellbeing Challenge Fund (South West)
IMPACT: Education & Learning; Work & Employment
ABOUT: Effervescent is an award-winning social enterprise with a growing international reputation for developing exceptional advertising campaigns to catalyse social goodness. Made up of a collective of artists, creatives, qualified youth workers and marketeers, the Eff team are all committed to igniting children’s creativity for good on these campaigns. Eff believes that if companies have a brief in mind that involves children and young people, the chances are that children and young people themselves – supported by an expert team – will produce a more imaginative, authentic and effective creative solution than adults.
PURPOSE OF INVESTMENT: The investment will help Eff to support public services, higher education institutions, NGOs and charities, and conscientious commercial brands that want to make a difference and change society for the better, by bringing them together with children and young people to design and deliver transformational campaigns with impact. Effervescent will also use the investment as working capital, enabling them to employ some additional key staff as well as expand the offering from their premises in their home city of Plymouth to include a creative co-working community for local start-ups, freelancers and entrepreneurs.
Eloise Malone, CEO of Effervescent: “We are proud and grateful to be recognised by Resonance with this important resourcing. Over the past ten years we have been in a period of constant research and development, working on regional and local contracts and supported by small project grants. This investment allows us to approach our future with the resources to match our audacious vision for the possibilities of creative practice with vulnerable children. Over the next five years we will grow our team and our offering until we are financially self-sustaining; reaching five times the number of children and young people that we currently nurture and training thousands of people in techniques that help them help young people more effectively.”
Leila Sharland, Senior Investment Manager at Resonance: “Eff approached Resonance as they needed working capital to expand. The result was an investment structure that allowed the organisation to build capacity through employing additional experienced staff for each business unit that Eff operate. We try to be flexible with the funding we offer. Effervescent is the tenth organisation that we have provided with “permanent capital” alongside a standard loan. The use of “permanent capital” is an innovation Resonance has introduced in direct response to the needs of growing social enterprises. In essence, it involves a loan for which there are no initial repayments and no set repayment dates, allowing the organisation to focus on building capacity and scaling its impact. Instead, a share of the enterprise’s revenue is paid once they are operating at a level where repayment is less of a burden.”
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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