OKR Financial announces £20M bridge funding for UK SMEs and tech startups

OKR Financial

One of the biggest challenges for Small and Medium Sized Enterprises, or SMEs, is bagging reliable financing. This is certainly more difficult for companies in select sectors, post the COVID-19 pandemic. To lend a helping hand to UK SMEs in the current situation, the debt and equity financing provider OKR Financial has launched a £20 million fund. 

A non-dilutive fund

For tech startups and SMEs, getting the right amount of non-dilutive funding at the right time can be critical. Taking this into consideration, OKR Financial has announced the new £20 million fund to provide cash infusion so that tech companies “can hit milestones much faster than traditional tech financing options allow.” Among the financing provider’s venture debt options are government programme financing, asset secured loans, and a traditional equity fund.

SMEs and smaller companies that are starting out might have to wait between three to six months to receive HMRC Tax Relief and other Government Funding Programmes (GFP). This is where the new fund comes in. The fund also follows the company’s £108.56 million ($150 million) fund model, which was previously introduced in Canada. It will enable companies to borrow against future expected receipts from HMRC Tax Relief and Government Grant Programmes.

A longer runway

OKR Financial was founded by Managing Partners Dr. Jason Neale and R. Stewart Thompson. The duo already have extensive knowledge about the UK ecosystem. “We’re thrilled to launch our £20 million fund to support the UK startup, scaleup and tech ecosystem, and provide financial support right when it’s most needed. As a startup investor, I love how we assist early stage companies get the runway they need to grow, scale and exit, in an expedient time frame” Thompson says.