FinTech revolutionaries, Revving, led by David Mandeno and Chris Pettit, has announced a game-changing deal, led by DWS to provide Revving with £107m of debt & equity, to fuel its drive to solve one of the digital era’s most challenging problems.
Revving simplifies the complex, empowering businesses in the digital economy to take control of their cashflow by connecting data, revenue and sales in one place.
Vala has backed Chris and David from the very beginning and this investment not only provides a significant uplift to the Vala EIS portfolio investors but secures the business in the medium-term. This funding will enable Revving to significantly scale up its operations and set it on track to finance up to £1.8bn over the next three years, combating cash flow challenges in the £129bn AdTech sector.
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Jasper Smith, one of Vala’s founders and Investment Committee Chairman, said “When Chris and David approached me with their idea 5 years ago, I was onboard from the start. Their idea, their experience in the market, the scaleability of the opportunity but, above all, their tenacity & drive set this apart as a company both me personally, and the Vala funds, should be backing. I’m delighted for the whole Revving team.”
