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SAN FRANCISCO, Feb. 17, 2021 /PRNewswire/ Boast.ai, a software innovator whose flagship product automates the complex process of applying for R&D tax credits, has secured a $100 million credit facility from Brevet Capital, a leading alternative credit investment and specialty finance firm, to launch an innovative financing platform enabling startups to receive cash advances on R&D tax credits and subsidies.
This new financing is in addition to Boast.ai s $23M Series A led by Radian Capital that was announced last December. Announcing the deal today, Boast.ai said the novel financing vehicle would simplify the R&D credit process and fuel innovation.
Boast.ai secures $100 million credit facility to build Clearbanc for R&D tax credits
Boast.ai has secured a $100 million credit facility to provide companies with up-front loans for their government research and development (R&D) tax credits.
The non-dilutive loans are reminiscent of the monthly recurring revenue (MRR) financing model used by companies like Clearbanc, and see Boast.ai expanding beyond its main business, an automated platform for claiming R&D tax credits in the United States (US) and Canada. The loan offering bolsters the company’s goal to become a one-stop-shop for startup’s R&D tax credit needs.
Boast.ai, which helps businesses get research and development (R&D) tax credits, on Wednesday announced a $100 million credit facility from Brevet Capital.