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Brevet Capital Provides $100MM Credit Facility to

February 18, 2021, 08:05 AM
Filed Under: Technology

Brevet Capital provided a $100 million credit facility to, a software innovator whose flagship product automates the complex process of applying for R&D tax credits, 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's $23M Series A led by Radian Capital that was announced last December. Announcing the deal, said the novel financing vehicle would simplify the R&D credit process and fuel innovation.

This financing will enable to help startups recognize immediate cash benefits from R&D tax credits and innovation incentives, which now exceed $15 billion a year between the U.S. and Canada, and $200 Billion globally but can take as long as 16 months to get since companies need to wait for tax filing season and government processing times. Startups will be able to leverage their R&D refund eligibility to receive financing on a predictable monthly or quarterly basis, enabling them to grow their business without delay and without surrendering equity. has helped more than 1,000 innovative companies to recover R&D costs from the U.S. and Canadian government, streamlining the process and reducing the risk of costly audits.'s R&D tax credit software gathers data from a company's existing technical and financial systems to identify, categorize, and time-track eligible projects, ensuring nothing is missed and all the supporting documentation is in place, leading to larger refunds with less investment of time and resources.

The breakthrough financing tool comes as startups increasingly look to alternative funding solutions to fuel their growth, particularly during the pandemic. is uniquely positioned to support R&D-based financing, serving both as a unified system of record for R&D data and as a sophisticated financing platform enabling companies to leverage their R&D as an asset to fund their business without giving up equity and dealing with paperwork.'s team has extensive expertise in the technology and tax-credit space. Co-founder and CEO Alex Popa previously managed the R&D tax practice for large accounting firms, while co-founder and President Lloyed Lobo formerly ran product and growth for a number of venture-backed tech startups. Brevet Capital, meanwhile, has handled more than $20 billion of transactions since its founding over 20 years ago.

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