Igniting game capital
Kwalee is an expanding, independent, mobile game developer based in Leamington Spa who came to us for help and support with their short term cash flow issues.
1. What was your situation prior to working with PlayIgnite i.e. what was the key challenge your studio faced?
Prior to working with PlayIgnite, Kwalee was going through a period of rapid expansion. We had 3 hit games in the top of the US App Store rankings – Looper!, PLANK! & Go Fish. In order to keep the titles growing we needed to spend a lot on marketing, and although we were generating significant revenue, waiting for the revenue to be paid each month whilst having to market them created short term cash flow issues.
2. What attracted you to PlayIgnite?
PlayIgnite offered an attractive proposition because they understood the market, and offered short term, flexible finance solutions which were ideally suited to our situation.
3. What did PlayIgnite actually do for your studio?
PlayIgnite gave us some short term flexible loans on the strength of advertising revenue we had generated but not yet been paid for. This allowed us to continue to fund a lot of ongoing UA activity and to keep the momentum going.
4. How are things different now? Ideally we would use some data to demonstrate increased returns…
Since working with PlayIgnite we are able to spend more on UA every day without having to worry too much about the short term cashflow issues. This has enabled us to maintain strong chart positions for our games for longer and to maximise profits.
5. In general how was the process, how easy was it to work with PlayIgnite?
It was incredibly easy to get setup initially with PlayIgnite – it took just a few days. The fact that they understand the business model for our industry was a huge time saver. They are helpful, responsive and very flexible, and allow us to quickly repeat the process as often as we need to.