Fundsquire, a Melbourne-based startup investment firm, has announced the debut of Grant Advance, a non-dilutive funding solution available in Australia, Canada, and the United Kingdom.
Fundsquire is the first to launch a Grant Advance funding solution simultaneously across three major markets, and will now offer easy, non-dilutive finance to tackle these specific funding difficulties for businesses that are using grant programmes.
Through Fundsquire Grant Advance, companies that are leveraging government grant programs can access their future, eligible grant capital several months in advance, the company said.
“We have amazing customers, and offering them funding options other than just R&D really changes the game for them,” said Damien Petty, CEO & Founder, Fundsquire.
The announcement comes on the heels of Fasanara Capital’s $75 million strategic investment in Fundsquire. Grant Advance is a step toward Fundsquire’s goals for the coming year, which include introducing innovative, game-changing solutions in existing markets, as well as enabling tech development and market expansion.
“Whether they’re applying for a grant, or waiting for their next payment, Fundsquire can now offer capital to these innovative businesses. Helping solve complex funding problems often faced by businesses at this stage is a core part of our mission.”
What is Grant Advance?
Every year, the Australian government gives about $75 billion in financial grants to businesses. Grant Advance is an easy way to use future grant funds to drive current milestones.
Fundsquire is unique in that it does not require revenue or proof of profit to support the loan because repayments are made through the grant itself.
Challenges in availing government grants
There are hundreds of grant programmes available from the Australian, Canadian, and United Kingdom governments to support innovation and employment creation.
Businesses seeking for or receiving government grants, on the other hand, face hurdles common to early-stage companies, such as matching contributions, proving alternative funding sources, and funding grant milestones. To counter this, Fundsquire is offering straightforward, non-dilutive capital.
“Along with our game-changing growth capital, we want to offer our customers a frictionless, valuable community of partners and perks,” said Scott Spence, Managing Director, Fundsquire.
“Our regional and global partners continue to help innovative businesses gain informed access to government grants. Together, our funding solution will help unlock the next steps of a business’ grant cycle and place them on the best route to success.”
Fundsquire was launched in 2016 by Executive Officer Damien Petty, who recognized a market gap for finance products for pre-revenue and early-stage startups.
The company has more than doubled its investments in R&D-focused companies in the last year, as Mr Petty has grown his team and technological platform. The company provides R&D funding for SAAS startups, agtech, medtech, and biotech firms, as well as mining, manufacturing, renewables, and cleantech companies.
For more info on Grant Advance: https://fundsquire.com.au/grant-advance/
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