SAN FRANCISCO, February 17, 2021 /PRNewswire/ — Boast, a software company whose main product streamlines the complicated process of claiming R&D tax credits, has secured a $100 million USD credit facility from Brevet Capital, a leader in alternative credit and specialty finance, to launch a new financing platform that gives startups access to cash advances on R&D tax credits and subsidies.
This new financing comes on top of Boast’s $23 million USD Series A led by Radian Capital, announced in December 2020. With today’s announcement, Boast says this innovative financing solution will make the R&D credit process easier and help drive innovation for its clients.
This funding will allow Boast to help startups access immediate cash from R&D tax credits and innovation incentives—now totaling over $15 billion annually between the U.S. and Canada, and $200 billion worldwide—even though these credits can take up to 16 months to receive due to tax filing and government processing delays. Startups can now use their R&D refund eligibility to secure predictable monthly or quarterly financing, so they can grow their business right away without giving up equity.
Boast has already helped over 1,000 innovative companies recover R&D costs from the U.S. and Canadian governments, making the process easier and reducing the risk of expensive audits. Boast’s R&D tax credit software pulls data from a company’s existing technical and financial systems to identify, categorize, and track eligible projects, ensuring nothing is missed and all supporting documents are ready—leading to bigger refunds with less time and effort.
This breakthrough financing tool arrives as startups increasingly seek alternative ways to fund their growth, especially during the pandemic. Boast is uniquely positioned to support R&D-based financing, acting as both a unified system of record for R&D data and a sophisticated financing platform. This lets companies use their R&D as an asset to fund their business—no equity dilution, no paperwork headaches.
Boast’s team brings deep expertise in technology and tax credits. CEO Alex Popa previously led R&D tax practices at major accounting firms, while co-founder and President Lloyed Lobo managed product and growth for several venture-backed tech startups. Brevet Capital, for its part, has managed more than $20 billion in transactions since its founding over 20 years ago.
“R&D is the engine of today’s economy, and innovative companies deserve access to the tax credits they’ve earned,” said Lobo. “We’ve spent nearly a decade perfecting our approach to help customers get more money, faster, and with less risk than any other solution out there. We empower companies—from startups to large enterprises—to measure the value of their R&D, then unlock that value through a successful R&D tax credit claim, so they can grow without relying on outside capital.”
“R&D tax credits are a massive untapped resource for companies looking to invest in and accelerate innovation,” said Douglas Monticciolo, CEO and Co-Founder of Brevet Capital. “R&D tax credits are a valuable source of capital, but the wait times can be a real challenge for early-stage companies. Boast’s AI-powered financing platform removes those delays, letting startups focus on building new products and solutions while immediately benefiting from their R&D investments.”
About Boast
Boast is building the future of tax credit recovery with artificial intelligence, helping companies get bigger returns faster—without manual work or audit risk. With operations across the U.S. and Canada, Boast has helped over 1,000 innovative companies recover their R&D costs from the government. To learn more, visit www.boast.ai
About Brevet Capital
Based in New York, Brevet is a registered investment advisor focused on opportunities in the government sector. Brevet creates and structures tailored financing solutions to help clients grow. Since its founding, Brevet has advised on and structured over $20 billion in transactions. With a 20-year track record, Brevet partners with U.S. state, federal, and international government agencies to deliver unique financing solutions. For more information, visit www.brevetcapital.com
