Rocking Horse provides UK SMEs and early‑stage companies with non‑dilutive financing that advances up to 80 % of their eligible R&D tax credit or innovation grant before the tax filing date. The fully digital application and rapid approval process deliver working capital within days, which is repaid automatically from the eventual government payment, allowing businesses to continue R&D without equity dilution.
Funding
$12.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
SMEs and early‑stage companies in the UK often experience cash‑flow constraints because R&D tax credit refunds and innovation grant payments are received only after the end of the financial year, delaying reinvestment in product development.
Solution
Rocking Horse offers a non‑dilutive financing product that provides an advance on up to 80 % of an eligible R&D tax credit or innovation grant before the tax filing date. Companies complete a short online eligibility check and loan calculator, submit a streamlined application, and receive rapid approval. Once approved, legal documentation is signed electronically and the advance is disbursed within days, giving businesses immediate working capital to continue R&D activities. The loan is repaid automatically from the eventual tax credit or grant payment, eliminating the need for equity dilution or ongoing interest payments. This model enables firms to maintain development momentum and scale without waiting for government reimbursements.
Target Audience
Primary customers are UK‑registered limited companies conducting qualifying R&D activities, typically SMEs and early‑stage businesses that spend at least £20,000 per year on R&D and seek faster access to their tax credit or grant funds.
Features
- Online eligibility screening and loan calculator to estimate advance amount based on projected R&D spend
- End‑to‑end digital application workflow with electronic signing of legal documents
- Fast approval process delivering funds within a few business days of approval
- Advance of up to 80 % of the anticipated R&D tax credit or innovation grant, repaid from the final government payment
- Non‑dilutive financing structure with no equity stake taken in the client company
- Compliance with UK government criteria (limited company, ≥ £20k annual R&D spend, qualifying R&D activities)