Revving, a company that is transforming the digital media payment landscape with a completely new take on traditional invoice factoring set to transform UK competitiveness in the global adtech market, announced a landmark investment of £107 million led by one of the world’s largest asset managers DWS.
This investment includes £100 million of debt funding which will be invested directly into the UK adtech sector and broader digital economy, which is essential for the future growth of the UK economy but has been largely neglected by traditional financial institutions.
This investment will enable Revving to address the crippling issue of extended payment terms that has long plagued digital industries, straining cashflows and hindering productivity and growth. And over the next three years, Revving expects to fund up to £1.8 billion to UK digital businesses.
The UK is betting big on the digital economy as a key driver of future growth and the adtech brings over £100 billion to the UK economy while supporting millions of jobs. However, the adtech industry in the UK faces major challenges in the form of extended payment terms that often stretch to 120 days or more. This stifles growth and innovation, and it is making the UK less competitive against well-capitalized global adtech businesses that are taking an increasing share of the global market.
The complexity of the adtech ecosystem, such as slow payments between publishers, affiliates, advertising networks, agencies, and other intermediaries, results in a domino effect of financial strain across the whole digital supply chain. Publishers face delayed payments so ad networks in turn struggle to accelerate cash flow for their clients, and programmatic and affiliate businesses are starved of critical cashflow and unable to capitalize on growth opportunities.
Revving completely transformed invoice factoring for the digital economy. Its innovative receivables funding platform is an industry first that seamlessly integrates with digital platforms and marketplaces to capture sales data and provide instant access to revenue ahead of invoice creation.
KEY QUOTES:
“Over 50,000 UK businesses went under last year due to late payments. We are on a mission to eradicate this and this strategic investment is a game-changer for Revving and the entire digital economy. Revving has built a highly sophisticated platform specifically for the digital economy that completely reinvents the way traditional invoice factoring works.”
– Chris Pettit, CEO of Revving
“UK affiliate marketing faces a funding bottleneck, with access to growth capital at an all-time low. The industry represents the best of UK entrepreneurship, and this cannot be jeopardised by sluggish payment systems. Revving is leading the way in enabling faster access to affiliate commissions, allowing affiliates to reinvest for growth.”
– Kevin Edwards, founder and director, APMA
“Revving’s focus on high-tech digital ecosystems and robust growth trajectory aligns perfectly with our commitment to backing transformative financial solutions in the UK. This investment represents the evolution of private credit as it grows into new and innovative digital sectors.”
– Vlado Spasov, Head of Capital Solutions, DWS
