Financing provider utilizes $150m fund with grant matching platform to accelerate growth for early stage companies
Calgary, AB – OKR Financial, one of Canada’s leading debt and equity financing groups, has teamed up with Pocketed, a grant matching platform built to assist startups and SMEs in finding and accessing grant funding that they are eligible for.
There are billions of dollars available in Canadian grant funding, much of which currently goes unused partially due to the difficulties that startups and SMEs face in finding grants that match their eligibility. Pocketed is a Canadian startup that has created a unique – and free – solution to this problem, using AI software to match businesses with grants based on their eligibility.
Although these programs provide critical support for startups and SMEs, businesses are usually required to spend the money they have been awarded, before they can be reimbursed with their grant funding. This creates a gap for businesses that are eligible for grants but do not apply for them because they cannot afford to. As one of Pocketed’s partners, OKR Financial is tackling the issue by providing non-dilutive financing to startups and SMEs to bridge the capital gap before they receive their grant funding.
Bhavik Chauhan, OKR Financial’s VP Business Development and Marketing, says this partnership will be a gamechanger for Canadian businesses: “Pocketed has developed a tremendous resource for Canadian business founders struggling to access and understand grant funding. We’re thrilled to partner with them on the next stage of the grant process: to provide the timely cash infusion that Canadian SMEs need to pursue grants, so they can grow and scale.”
Brianna Blaney, Co-Founder and CEO of Pocketed says, “Millions of dollars worth of grant funding go unused by Canadian businesses every year, because they don’t know about the programs, don’t realise they qualify, or don’t have the time or capital to apply for them. We’re glad to have OKR Financial as our partner to help businesses to bridge the gap between grant funding and receiving capital without stopping growth.”
OKR Financial will be one of the first partners on the upcoming Pocketed Marketplace, where Pocketed will feature service providers to help Canadian entrepreneurs through the grant and non-dilutive funding process.
For more information on OKR Financial, please visit okrfinancial.com
About OKR Financial:
OKR Financial is one of Canada’s leaders in providing debt and equity financing solutions to entrepreneurs. OKR operates a family of private funds that provide non-dilutive financing solutions to Canadian SMEs by leveraging Federal & Provincial SR&ED tax credits and Government funded programs, providing the pathway to equity financing when companies are ready to scale up.
Pocketed helps businesses easily access billions in grant funding with an intelligent matching platform and marketplace for non-dilutive funding. Through this marketplace, Pocketed users connect with service providers (grant writers, lenders, tax credit consultants, recruiters, and more) to increase their success rate and get faster access to cash. A new frontier of funding has arrived, and it’s right in your back pocket.