Ravelin, a leading cybersecurity company uses Bound to:

• Lock in exchange rates for upcoming invoices, ensuring predictable revenue.

• Streamline financial reporting by feeding accurate data directly into Xero and Ravelin’s P&L statement.

• Spend just a few minutes each month managing FX risks, freeing up time for strategic tasks.

• Enjoy an unexpected revenue boost, consistently adding $10,000 to $15,000 each month by outperforming the market.

Who is Ravelin?

Ravelin is a leading tech company that offers a smart fraud detection and prevention platform to help businesses stop online payment fraud. The company built its reputation by securing transactions for large-scale food delivery and cab-ride marketplaces. Since then, Ravelin has expanded into sectors such as travel, ticketing, entertainment, gaming, gambling, and retail. They process over 1.2 billion transactions and secure more than 230 million active user accounts.

• Website: https://www.ravelin.com/

• Number of employees: 130

• Industry: Saas - Cyber security 

• Team using Bound: Finance

FX fluctuations: the uninvited guest at the profitability party

As Ravelin aimed for profitability, they needed accurate financial reporting to track performance and make informed decisions. They billed customers in USD but operated in the UK, meaning they had to convert their revenue to GBP. This exposed them to exchange rate fluctuations. Like many fast-growing startups, FX risks weren’t their top priority, so they converted currencies as needed, without accounting for fluctuations.

The unexpected Twist

However, they quickly realised that predicting GBP/USD exchange rates was as unreliable as the English weather. December brought unexpected volatility, resulting in financial risks and budget shortfalls they hadn’t anticipated.

Their existing forecasting model didn’t account for these fluctuations, leaving them with unpredictable cash flow and complicating accurate reporting.

The need for change

To meet their profitability targets and provide reliable reports to the board, Ravelin recognised the need for a more stable and reliable forecasting system –one that could manage FX risks and offer the certainty required for sound decision-making.

Enter Bound

Ravelin adopted Bound to lock in exchange rates every time they invoiced clients, providing revenue certainty. This fixed rate was integrated into their FP&A processes, making forecasting straightforward and reliable.

By locking the rate against the invoice in Xero, this data seamlessly flowed into their P&L statement each month, ensuring accurate financial reporting. Yes, it’s as simple as that.

The Results

Bound has allowed us to consistently forecast revenue from our customers each month. Now, we only spend a couple of minutes on Bound every month, and that’s it!

Unexpected outcomes: Since we started using Bound, we’ve consistently outperformed the market each month. As a pleasant surprise, we’ve added an extra $10,000 to $15,000 to our revenue –an unexpected bonus, but who’s complaining?

No opinion given in the material constitutes a recommendation by Bound Rates Limited that any particular transaction or investment strategy is suitable for any specific company or person. Results may and will vary. The information in this publication does not constitute legal, tax or other professional advice from Bound Rates Limited or its affiliates.