Unlocking cash flows
Virttrade is an expanding, independent, mobile game developer based just outside London, who we helped with advance funding for their VGTR claims.
1. What was your situation prior to working with PlayIgnite i.e. what was the key challenge your studio faced?
Like many growing businesses we needed to manage cash flow, and needed to realise the cash benefit of Video Game Tax Relief earlier in the year, to support the growth of the Official F1 game.
2. What attracted you to PlayIgnite?
PlayIgnite was recommended to us by a couple of industry veterans, and from the first meeting it was clear that they understood our situation, cared about video games, and wanted to work with us rather than ‘against’. It’s easy to see financing as a necessary evil – but PlayIgnite took the ‘evil’ out of it.
3. What did PlayIgnite actually do for your studio?
We received a loan against VGTR in the timeframe we needed. If anything, we were the ‘difficult’ party – PlayIgnite were ahead of the game the whole time.
4. In general how was the process, how easy was it to work with PlayIgnite?
The process was as easy as financing ever can be. What particularly impressed was the regular, clear communication and the assistance with introductions and advice going above and beyond the remit of the loan.