The niche finance provider funded £4.5m in 2018 and more than £7.5m in 2019, and is looking to lend at least £10m in 2020. 

Finstock offers a range of financial services for start-up companies, including accelerated R&D tax credit loans , VGTR (video games tax relief) and other tax credits, venture debt and loans. 

Oliver Jenkinson, co-founder and director at Finstock Capital (pictured above), said that 2019 was a busy year for the lender.

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•   Finstock Capital launches R&D bridging product

“We saw considerable growth in enquiries for early-stage capital due to delays of payments from HMRC and also from equity investment taking longer than anticipated.”

He added that Finstock was able to look at unusual financing situations where traditional lenders were unable to service customers’ needs due to “time constraints and risk aversion”.

“Many firms prefer not to dilute the equity of their business and cannot obtain financing from banks due to a lack of revenues or fixed assets.” 

Edo Salvesen, co-founder at Finstock Capital, commented: “There are a number of high-quality businesses seeking alternative solutions to equity and our anti-dilutive options are being seen as a means to extend companies’ cash runway”.

Oliver explained that the typical duration between first contact with a company to the money appearing in their account was seven days or less.

“For a company with payroll approaching and insufficient funds to pay it, this service can be a real lifesaver.”