Amount Financed: >$250k
Type of Facility: Accrued SR&ED and Accounts Receivable Financing
Days to Fund: 4
Use of Funds: The company had experienced significant headcount growth, was investing heavily in developers to move more tools to a SaaS platform and wanted to extend their runway to an equity raise. By providing a bridge loan, the company was able to increase sales, increase MRR and increase their enterprise value so that when the time came to close the next round, the founders had less dilution.