Company: Revving
CEO and Co-founder, COO and Co-founder: Chris Pettit, David Mandeno
Website: https://revving.io/
About Revving
When fintech meets adtech: frictionless payments that let innovation flourish
From shaping film funding in tropical East Africa to disrupting fintech, Chris Pettit has spent over 20 years navigating the intersections of finance, law, and entrepreneurship in the technology, media, and entertainment sectors.
Having worked on 100+ film, TV, music, and video game financing deals, he played a pivotal role in the introduction of the Mauritius film rebate scheme, working alongside the Prime Minister and government to create a game-changing investment framework for the audiovisual industry.
Meanwhile, after achieving his Masters in Engineering in New Zealand, and taking on a consultant role for Unilever in Sydney, Australia, David Mandeno moved to London, UK, where he worked on a wide range of growth strategy initiatives across a variety of sectors.
He then consulted for private equity firms investing in early-stage high-growth businesses across media, technology and, eventually, mobile gaming, where during the pandemic he explored ways to provide funding to game developers, helping them grow their businesses through user access.
This is where Chris and David’s paths crossed, and they soon saw a pressing problem in the UK’s digital economy – an everyday culture of late payments that inevitably stifled innovation.
In many ways, ad-funded mobile gaming is a highly agile business model. Developers have access to massive volumes of granular, real-time purchase and transaction data to help them optimise and evolve their games. But those developers – who spend vast sums on user acquisition – routinely find themselves subject to extended payment terms from advertisers – often waiting three months or more to be paid.
What‘s more, Chris and David could see the same problem was endemic across a wide range of digital ecosystems, including programmatic advertising, affiliate marketing and digital music streaming.
With their shared background in finance, the pair recognised a real opportunity to combine both the technology and data elements of these digital ecosystems, with a particular goal of helping smaller businesses that struggle to find traditional funding.
This led to the creation, in 2020, of Revving, a fintech company revolutionising invoice factoring for the digital world. They built their platform from the ground up and quickly onboarded their first wave of clients, offering businesses a faster, easier way to unlock capital and fuel growth.
Earlier this year, they secured £107 million in investment, and over the coming three years, Revving expects to inject up to £1.8 billion into digital businesses, with a potential £8.6 billion boost to the UK economy [according to IAB estimates] – a game-changer for the UK’s adtech industry.
Now, as CEO and COO of Revving, Chris and David are on a mission to reshape the financial infrastructure for digital businesses, tackling an issue that has long held back entrepreneurs and creatives alike.
When Chris isn’t driving change in fintech, you’ll find him skiing, playing cricket, or cheering on England rugby and Tottenham Hotspur. As for David, his aim is to become more flexible through yoga, and he’s also an avid skier and surfer.
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