OKR Financial, a leading debt and equity financing provider, has launched a £20 million fund to support UK technology SMEs by providing access to bridge financing, enabling them to borrow against future expected receipts from HMRC Tax Relief and Government Grant Programmes. This fund models the firm’s successful $150 million fund in Canada where venture debt and government grant factoring have been popular alternatives to traditional angel and venture capital funding.
OKR Financial understands that non-dilutive financing is critical to SMEs in growth stages. However, technology companies typically wait between three to six months to receive HMRC Tax Relief and other Government Funding Programmes (GFP). Recognising SMEs’ need for cashflow, and with most other financing options often requiring giving up equity, OKR Financial launched the UK fund to provide a cash infusion to tech companies so they can hit milestones much faster than traditional tech financing options allow. Among the venture debt options OKR supports are government programme financing, asset secured loans, and a traditional equity fund.
OKR Financial was founded by Managing Partners Dr. Jason Neale and R. Stewart Thompson, who already have deep roots in the UK. As finance and early stage growth and technology experts, they are passionate about finding ways to support the needs of growing companies in the technology sector.
“We’re thrilled to be launching our £20 million fund to support the UK startup, scaleup and tech ecosystem, and provide financial support right when it’s most needed. As a startup investor, I love how we assist early stage companies get the runway they need to grow, scale and exit, in an expedient time frame” said Thompson.
OKR Financial has a successful track record providing impressive returns to investors in Canada, and they are poised to make the same impact for investors and growing companies in the UK. Besides financing, they also connect entrepreneurs with important players in the tech ecosystem like consultants, investors, and accelerators and incubators.
SMEs that have worked with accounting or consulting firms specializing in R&D tax relief and have a history of receiving payments from HMRC are ideal candidates for financing from OKR Financial.
For more information on OKR Financial, please visit okrfinancial.co.uk.