Location: British Columbia
Amount Financed: >$500k
Type of Facility: SR&ED and Interactive Digital Media financing
Days to Fund: 19
Use of Funds: This company is a leader in their field, was negotiating multiple engagements with Fortune 500 companies and was selected to have their SR&ED claim reviewed by the CRA. The review was forecast to take 3 to 6 months due to the size of the claim. Venbridge was able to provide a bridge loan to meet the financing needs of the company so that they would not have to wait until the CRA finalized the review.
Company Background: This VR/AR company creates games for PlayStation VR, Steam, & Oculous. This company started out in mobile VR, but has become one of the world’s largest VR/AR studios.