A data-driven FinTech lender has expanded the credit facilities available to app and game developers.
Pollen VC’s credit models have a granular view of how revenue is generated over time, enabling it to expand credit lines based on live performance metrics.
App and game developers rely on finance to help them market and promote their products whilst they wait to be paid from the Apple App Store or the Google Play Store.
Developers can now borrow to up to 4x their monthly revenues, removing their need for venture capital or revenue-based loans.
With more than $120 billion being spent on apps and games globally, these businesses face cashflow squeezes on a regular basis.
Martin Macmillan, CEO and founder at Pollen VC, commented: “Developer revenue isn’t just realised at the point of download, monetisation occurs over their consumer’s lifetime usage of the app or game.
Our ability to base our lending decisions… on a developer’s existing user base is unique and will be a game-changer for the industry.
“The amount of available credit is recalculated on a daily basis so as marketing performance improves, so the amount available to borrow will grow.”
He added: “We have worked with hundreds of app and gaming developers since 2014 and the industry has changed radically since the early days.
“Our new lending approach provides a breath of fresh air to the industry which will enable gaming and app founders to really understand their numbers and enable faster growth and the ability to scale in a capital efficient way.
“We will provide developers with greater access to capital and financial knowledge to really transform the industry.”
Businesses must have one or more live apps on the Apple App Store or Google Play Store, $20,000-5,000,000 in monthly revenue and three months or more of transaction history in its business bank account.