aisle 3 R&D Advance Funding Case Study
Read how GrantTree helped deep tech e-commerce company aisle 3 double down on its explosive growth with nearly £100,000 in R&D Advance Funding.
aisle 3 R&D Advance Funding Case Study
Read how GrantTree helped deep tech e-commerce company aisle 3 double down on its explosive growth with nearly £100,000 in R&D Advance Funding.
AI-Powered Commerce
aisle 3’s radical e-commerce offering lets shoppers browse and purchase trainers from a plethora of online sellers through a single, AI-powered platform. Saving users time, stress, and ‘tabtiredness’, aisle 3 has dramatically simplified the retail experience while providing shoppers with the best deals for their desired products by developing groundbreaking AI that aggregates products from all retailers under a single checkout called Cloud Basket®.
Capitalising on Growth
On completion of its R&D, the company switched focus to growing sales and audience. However, its commercial activities exploded, leaving short-term cash issues to support sales volumes. The company was due almost £130,000 in R&D Tax Credits, but its claim would not be paid out for several months and, with the company’s options limited, CEO and Co-Founder Thomas J. Vosper needed to capitalise on the rapid growth. “Being backed by a famous VC, FJ Labs, and several exited founders, we knew we had found our magic moment and needed to capitalise on that,” Thomas explains. “After investing so much into a technical solution, we needed to support our efforts finding product market fit and our audience was growing by thousands.”
Enter R&D Advance Funding
GrantTree introduced aisle 3 to our R&D Advance Funding service, which lets companies access up to 80% of their R&D Tax Credit up to nine months before their year-end. As aisle 3’s R&D Tax provider, GrantTree was able to give Thomas the confidence he needed in the company’s future claim size to pursue the advance.
The Results of aisle 3's R&D Advance
A Large Advance
GrantTree facilitated an R&D advance worth 80% of aisle 3's claim size–almost £100,000.
Immediately Fund Growth
The funding allowed aisle 3 to capitalise on its success and maintain the upward trajectory while waiting for its credit.
No Monthly Payments
There were no monthly payments. aisle 3 simply paid back its advance once it received its R&D Tax Credit.
“The £100,000 R&D Advance was a massive accelerator for aisle 3. Before the advance, we had invested heavily in tech and had limited resources for marketing and commercial opportunities. We had to find ways to support our growth whilst waiting for our R&D Tax Credit. GrantTree and its funding partner were amazing. We wouldn’t have used advance funding unless we were confident that our R&D Tax Credits claim was accurate and that we weren’t going to face an enquiry or a protracted funding assessment. GrantTree’s R&D Tax experts gave us that confidence.”
Thomas J. Vosper
CEO and Co-Founder
Learn More About Advance Funding
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