Adtech sector case study: From tech start-up to scale-up
Bespoke financing secured.
Funding seed round through to international scale-up.
Supporting an innovative AdTech disruptor.
Another client success story, supported by Addleshaw Goddard.
In 2022, we were approached by Revving—an early-stage start-up founded by Addleshaw Goddard alumnus Chris Pettit—during its infancy seed round. The company had huge potential and instructed us to aid in developing their product offering and securing financing, which would help them to invest directly into the UK AdTech sector and wider digital economy.
This would also help to ease the cashflow pressures specific to UK digital businesses. Revving provides funding solutions for AdTech businesses, particularly those facing challenges with extended payment terms.
They offer instant access to working capital by leveraging granular transaction data from digital platforms and marketplaces. We were initially instructed by Revving after being approached by a member of our alumni community to help the company with the structuring of their product, initial financing and their customer documentation.
This work and our client’s innovative product offering would see us join them on a rapid growth journey.
A few fast facts
What happened
From the outset, we partnered closely with Revving, guiding them through the legal intricacies of onboarding their very first customers and steering them confidently through their inaugural round of financing.
As Revving transitioned from an ambitious start-up to a dynamic scale up, our expertise was called upon once more. This time, to advise on a significantly larger and more complex financing strategy, supporting their continued growth and evolution.
After going out to market, Revving secured a £100m debt financing as part of a wider investment offer for their specialist receivables product led by DWS, the private credit arm of Deutsche Banke.
We leveraged our expertise in receivables financing to guide the team through a nuanced legal and operational structure. We helped them craft a solution to suit Revving’s needs, with future growth at the forefront
The outcome
From seed round to international expansion, Revving is a prime example of how we love to partner with innovative startups and help them to reach their full potential.
With substantial funding secured, Revving is now expanding internationally into Europe and beyond. We are with them every step of the way, drawing on expertise from our teams in Ireland, Luxembourg and Spain.
These recent instructions support Revving’s continued growth and strategic expansion, strengthening its financial position as it scales operations and enhances its market presence. It’s a true example of a genius seed business achieving the success it deserves.
This is a significant milestone for Revving, enabling us to accelerate our growth and capitalise on a huge market opportunity - helping digital businesses get paid faster and addressing inefficiencies across AdTech. Addleshaw Goddard supported us every step of the way and this deal wouldn’t have happened without them.
We are delighted to have supported Revving in securing this substantial debt financing package, which will play a crucial role in fuelling the company’s next phase of growth. The deal underscores our ability to advise on sophisticated funding structures and our commitment to helping innovative businesses access the capital they need to scale successfully.
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