Customer story – Nonsense
In a converted warehouse loft space in the heart of London’s trendy Shoreditch, you’ll find a creative agency called Nonsense. They specialise in ideas of real substance; the kind that build brand credibility.
“Most people think we should’ve called ourselves No Nonsense but we don’t agree,” says Founder and Creative Partner, Rob Mosley. “This industry takes itself too seriously and we didn’t want to do that. We never wanted to be the kind of agency that puts its awards on a shelf and polishes them every day. We want to be the kind of agency that’s always on its toes and doing the next greatest and most interesting thing for our clients.”
When Nonsense began back in 2007, they borrowed a corner of a friend’s office and called everyone they knew in the industry to say they’d started an agency. They charged a project fee instead of a day rate and kept some of that aside to grow the business over time.
“By the end of that first year, we could afford our first employee and we’ve grown from there,” Rob recalls. “The first time we really felt like a real agency was the first time a client came to us directly and that was Cancer Research UK. One of my proudest achievements as a founder is that they’re still a client after 12 years.”
Over time, the number of clients that Nonsense was working with began to grow and along with it the scale of the projects. Nick Armitage and Will Savage came on board as Operations and Creative Partner and Nonsense began pitching bigger, more ambitious ideas. Fast forward to 2018 and the agency was working with some of the largest brands across charity, food and beverage, insurance and sport.
“As we’ve continued to grow as a business, we’ve started working with even more big, exciting brands like Cancer Research UK and with that comes more rigid payment terms,” explains Nick. “As a small independent agency, we were used to 15 or 30-day payment terms but suddenly we jumped to 45, 60 or even 90 days.”
It was at that point that the agency started to look into funding. They needed a solution that could bridge the cash flow gaps they were experiencing as they waited longer and longer to get paid. Interested in Fintech, Nick began to research their options in that space and came across invoice finance from MarketInvoice.
“I’d seen MarketInvoice mentioned in a list of top 10 Fintech businesses, so I was keen to geek out on what they were offering,” says Nick. “We’d never used anything like that before; a kind of self-serve platform that allows you to be more strategic with how you handle your money.”
“I was quite surprised at just how simple the whole MarketInvoice proposition is and how easily it all plugged in,” adds Will. “If we don’t want to wait 90 days, we can have the money now and put it to good use instead of having to wait. From a project delivery perspective, it simply slotted into our workflow. We can resource and gear up to be able to deliver projects knowing that we can rely on that cash straight away.”
With cash flow taken care of Rob, Nick and Will have more time to focus on the things they really love about running an agency.
“For me personally, the best moments are where you win a pitch or sell an idea that you’re super excited to make,” Rob tells us. “There’s always an adrenaline buzz and it feels amazing. Creative moments like this have happened throughout Nonsense history and they’ve just got a bit bigger in stature in terms of how well known the clients are and how interesting the ideas have become. Moments like this happen all the time and that’s what gets me out of bed in the morning.”
They’re working on an exciting line-up of projects at the moment with a variety of clients both new and long-standing, plus growing their team. We can’t wait to see what the future holds for Nonsense!