A Liverpool-based video game developer and publisher, best known for creating a mobile chess game based on hit Netflix series the Queen鈥檚 Gambit, has secured a 拢600,000 intellectual property-backed loan from NatWest to bring its next big ideas to market.
Ripstone, based in Liverpool鈥檚 Knowledge Quarter, has become the first UK gaming company to secure a loan from NatWest using its intellectual property as collateral.聽
Since the company was founded in 2011 Ripstone鈥檚 creative team has produced 21 games, reaching an audience of 20 million players worldwide. The business has a track record of creating and publishing classic games such as chess, pool and poker, but also develops games based on its own original IP.
Ripstone plans to use the funding to invest in its pipeline of new projects, including the development of new IP as well as other classic games. The firm employs 20 staff and has recently acquired a new office in the heart of Liverpool鈥檚 Knowledge Quarter, which was supported by a mortgage from the Royal Bank of Scotland, part of NatWest Group.
Earlier this year NatWest launched intellectual property-backed lending to support innovative scaleups which lack tangible assets to access the finance they need to grow. The bank partners with the specialist IP valuation firm Inngot to identify and value 鈥榠ntangible assets鈥� 鈥� such as patents, copyright and trademarks 鈥� which could be taken as security for loans.
NatWest has provided Ripstone with a specialist technology relationship director, Angela Moretta, who will offer additional support to the company.
鈥淎s a games developer we place a really strong emphasis on having ideas heard and prototyping new games, so we鈥檒l typically have at least three new projects on the go at any one time,鈥� said Amy Wall, finance director at Ripstone.聽
鈥淰ideo games can often take several years to develop, so you need a strong pipeline of funding to launch them and start to generate revenue.
鈥淥ur longstanding banking relationship with NatWest has been really important to enable us to leverage the value of our IP to secure finance. This loan will help the business to grow organically, allowing us to develop more original IP which gamers love, as well as providing the financial buffer to help us continue to produce the classic games like chess and pool for which we鈥檙e well known.鈥�
James Shelley, senior relationship manager at NatWest, said: 鈥淕ames are a serious business for Liverpool鈥檚 economy 鈥� employing lots of people in very good jobs that provide growth to the area.聽
鈥淗owever, typical loans do not always meet the funding needs of games developers, which may lack tangible assets like bricks and mortar, but more than make up for that with valuable IP.
鈥淎s a bank we want to support innovative firms like Ripstone to grow and our aim is always to enable them to leverage the ideas that really drive their success. This solution has the potential to be game changing for the industry, enabling developers to use their valuable IP to secure lending.聽
鈥淲e look forward to continuing to support Ripstone as they expand their tech capabilities and continue to lead in an increasingly competitive market.鈥�
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