A London fintech startup Claimer making it frictionless for companies to claim financial incentives from the government, has raised $4.2 million in seed funding.
The investment round was led by Project A Ventures along with participation from Moonfire Ventures (that backed Swedish startup GOALS and another London startup Mindstone), helloworld.vc and a group of tier one angels, including Errol Damelin (co-founder, Wonga), Matt Clifford (Chairman, Advanced Research and Invention Agency), Ian Hogarth (ex-CEO, SongKick), Harry Briggs (Partner, OMERS Ventures) and follow-on investors Ben Holmes (ex-Index Ventures) and TrueSight Ventures.
Scaleup plans in the UK
Claimer will use this investment to help tech companies claim government financing in as quickly as 10 minutes. Also, the startup plans to use the funds to scale in the UK and launch into a second market in the near future.
Claimer CEO Adam McCann said “The R&D claim industry is broken. Claimer’s vision is to accelerate innovation globally by eradicating this opacity and complexity between tech companies who need to claim incentives and governments who want to issue them. This seed funding round enables us to continue to scale in the UK and plan our launch into a second market in the near future.”
Sam Cash, Partner at Project A said “Research and development is a key driver of economic prosperity and GDP growth. We’re excited to support Claimer in enabling innovative companies to claim R&D relief they’re owed from governments, in a way that is considerably easier and cheaper than current solutions.”
Claim tax credits in 10 minutes
Founded by Adam McCann and Andrew Easter in 2019, Claimer is making the experience of claiming innovation incentives 10x easier. The company removes the massively inefficient data entry and communication inefficiencies of R&D tax credits and grant applications. Eventually, it gives customers more time, more focus, and more money to build their business.
Claimer acts as the interface between tech companies and government incentives. It is the de-facto way for startups and scaleups to claim incentives from the government, starting with R&D tax relief.
Companies using Claimer’s platform can initiate a claim in as little as 10 minutes. The startup achieves this by utilising technology to augment human expertise, removing the manual and time-intensive processes that can be faster and more reliably served with software. This enables Claimer’s specialists to put all of their energy and focus into processes that require expert care and attention.
The R&D claim solution has been used by hundreds of venture scale companies so far, including Otta, Nested, Unmind, and Hubble.