Fintech Scale-Up Tackles 120-Day Payment Terms Head-On, Unleashes Industry Growth, Bolsters UK Competitiveness and Fuels £8.6 Billion Economic Impact
London – Revving, an innovative fintech scale-up, transforming the digital media payment landscape with a completely fresh take on traditional invoice factoring set to transform UK competitiveness in the global adtech market, today announced a landmark investment of £107 million led by one of the world’s largest asset managers, DWS. The investment package includes £100 million of debt funding which will be invested directly into the UK adtech sector and wider digital economy, which is vital for the future growth of the UK economy, but has been largely neglected by traditional financial institutions.
This significant 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. Over the next three years, Revving expects to fund up to £1.8 billion to UK digital businesses. According to the IAB, the industry body for digital advertising, this vital injection of capital could have a 4.8x multiplier effect, generating a potential £8.6 billion boost to the UK economy.
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“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” said Chris Pettit, CEO of Revving. “Revving has built a highly sophisticated platform specifically for the digital economy that completely reinvents the way traditional invoice factoring works.
The UK is betting big on the digital economy as a key driver of future growth, and the adtech sector, a powerhouse contributing £129 billion to the UK economy and supporting over 2 million jobs, is critical to this. Yet, despite its potential, UK adtech faces significant challenges in the form of extended payment terms that often stretch to 120 days or more. This is not only stifling growth and innovation, it is making us less competitive against well capitalised US adtech businesses who are taking an increasing share of the global market.
The Complexity of the Adtech Ecosystem
The complexity of the adtech ecosystem, including slow payments between publishers, affiliates, advertising networks, agencies and other intermediaries, results in a domino effect of financial strain across the entire digital supply chain. Publishers face delayed payments, 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 capitalise on growth opportunities.
SME affiliates are suffering a David and Goliath moment with large platforms such as Google shortening supplier payment terms on the one hand, whilst large brands demand even longer invoicing payment terms on the other, leaving publishers and other digital SMEs invariably caught in the middle and having to fund these costs from their own pocket.
Kevin Edwards, founder and director, APMA, added: “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.”
Revolutionising Invoice Factoring
Revving has completely revolutionised 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.
Vlado Spasov, Head of Capital Solutions, DWS, said: “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.”
Revving’s portal unifies sales, payments and funding information from multiple sources to provide customers with unparalleled transparency and control over their cashflows, expanding the reach of their solutions and streamlining financial operations.
Key features include:
- Innovative funding model: Revving has developed a new and innovative form of invoice factoring specifically for the digital sector. This funding model shifts credit risk upstream and allows customers to access greater levels of highly flexible funding
- Tech-driven automated process: Using a proprietary technology platform and credit risk engine with direct integrations into digital marketplaces, Revving is able to leverage granular data to provide an automated funding solution ahead of invoice creation, allowing instant access to sales revenue, improving cash flow and reinvestment opportunities
- Unique payment and credit insights: Revving provides valuable data and insights into supplier credit, payment risk and payment performance, improving market transparency and enabling better financial planning and risk management
Revving client, Warwick Lambert, CEO of Genie Shopping, said, “We have worked with Revving since 2023 and our partnership has achieved record-breaking results. Being able to access our commissions quicker has allowed us to reinvest back into campaigns, driving better results for our advertisers and partners. The Revving portal makes analysis simple and the team’s collaborative approach has allowed us to have full control of how we use the portal.”
“Payment speed is critical for Publisher and Affiliate growth and success, and Awin is delighted to make payments faster than ever via our partnership with Revving, said David Lloyd, Chief Customer Officer of Awin, a major European affiliate network and a Revving strategic partner.
Revving’s innovative approach has garnered significant traction since its launch in 2023. The company boasts a rapidly growing presence in the UK market, serving an impressive roster of leading publishers, advertisers, agencies and networks. For more information about how Revving is transforming digital business, please visit www.revving.io.
About Revving
Revving is a leading fintech scale-up revolutionising access to working capital funding. Using a proprietary technology platform with direct integrations to digital platforms and marketplaces, the company leverages granular transaction data to offer an industry-first financial solution for the entire digital economy, enabling instant access to funding. Revving is headquartered in London, UK, and Barcelona, Spain. For more information please see www.revving.io
About DWS Group
DWS Group (DWS) with EUR 963bn of assets under management (as of 30 September 2024) aspires to be one of the world’s leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.
DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping to navigate the transition to a more sustainable future. With approximately 4,700 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.
Press Contact
Julie Skinner
Director of Communications
Revving
julie@revving.io
Mob: +44 7950 899130
