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.