Revving, a UK-based invoice factoring start-up, secures £107M in funding

Revving, a UK-based fintech startup, secures £107M in funding, including £100M in debt, to support invoice factoring and boost cash flow for digital businesses in the adtech sector.

UK fintech start-up Revving has successfully raised £107 million in a funding round led by asset manager DWS, consisting of £7 million in equity and £100 million in debt financing.

Revving secures £107M funding to boost UK adtech sector

Founded in 2020 by CEO Chris Pettit and COO David Mandeno, Revving provides a technology-driven platform designed to assist digital businesses, especially in the adtech industry, to access cash more quickly by leveraging invoice factoring. With the UK's adtech sector contributing £129 billion to the economy, Revving aims to solve the problem of extended payment terms, where businesses often have to wait over four months to receive payments.

The platform integrates with digital platforms and marketplaces to capture sales data, offering users quicker access to funds before invoice creation, resulting in better cash flow transparency and control.

Revving plans to channel this new debt funding into the UK adtech and digital sectors, with a goal of facilitating up to £1.8 billion in funding for digital businesses over the next three years. The fintech believes this initiative could drive an £8.6 billion boost to the UK economy, as stated in the Interactive Advertising Bureau’s 2023 Digital Dividend report.