Kashcade Raising $50 Million to Expand R&D Lending Amid Record Growth

Kashcade, the tech-drive lender to Australian start-ups, is looking to top-up it's lending capacity with a $50 million warehouse. The raise follows a stellar 2024, during which Kashcade deployed over $25 million to Australian companies eligible under the Research & Development Tax Incentive program.

The Australian Taxation Office (ATO) recently revealed ~$3 billion in R&D Tax Incentive refunds were distributed across ~13,000 companies. And with recent pressure for Australia to up its R&D investment in line with its OECD peers, these figures are expected to grow. 

Kashcade uses integrations with platforms like Xero to approve and fund loans averaging $300,000 within 48 hours, with many funded the same day. Loan sizes range from $10,000 to $2 million, with potential to support even larger transactions with new capital. 

The company is co-founded by Alex Simmons, a former CBA lending strategist, and Patrick Nappa, an ex-Apple software engineer. “We’re proud to offer innovative Aussie companies faster access to their R&D refund, a critical source of cashflow through the toughest part of their journey” said CEO Alex Simmons. “This raise positions us to deploy another $50 million to around 200 companies over the next year.”

Kashcade currently has term sheets from offshore investors but is also considering Australian funders for simplicity and alignment.

Notable past deals include an R&D loan to the B Corp Certified compostable stretch-wrap start-up, Great Wrap.

Learn More: https://www.kashcade.com/