Revving is a ground-breaking fintech providing transformational cashflow management solutions for online trading businesses. Any currency. Fully automated. ... Read more
Cash flow is the lifeblood of any business. Especially in economic downturns, having to wait weeks or months for payments can mean the end of your organisation.
Revving provides financing specifically to shorten the wait time for companies’ digital sales revenues. Focused on businesses in high-value digital markets (digital advertising, music streaming, mobile gaming, ecommerce and affiliate marketing), these clients are often waiting to be paid by some of the largest organisations in the world, including Apple, Google, Facebook, Spotify and Amazon. It is these major organisations that Revving takes the risk on, rather than an SME or individual customer invoice. It’s a £680bn opportunity in Europe alone.
Their proprietary technology enables Revving to capture customers’ online sales data at source and in real time, so that they can provide instant advances, up to 30 days faster than other invoice factoring solutions. Their unique pricing engine and risk management software automates the entire process with unmatched detail, meaning that they can also offer the full product as a white labelled, embedded finance solution to intermediators and digital platforms.
Having stress tested the platform with a live trial client for 6 months, they have their first major customers lining up to go live in October 2022. Aiming to close the round between Christmas and April, the company will be comfortably post-revenue by the point of investment and on their way to £100m annual revenue by Yr 5.
Revving was founded in 2019 by Chris Pettit and David Mandeno. Chris (CEO) provides 20 years’ experience as a financier entrepreneur in media and technology, complementing David’s 15 years’ experience in corporate finance and business strategy and execution.
Their senior team also includes: Jasper Smith, a highly experienced and successful entrepreneur who has led, built and sold multiple large media and technology companies over a 30+ year career, Paul Duncan (CTO), a highly experienced technology executive in regulated Fintech companies including as CTO of Borro, and Toby Norfolk-Thompson who has extensive experience in trading fixed income and risk management of receivables financing and corporate lending facilities in senior roles at Barclays Bank.