Local R&D finance firm, Advanced, raises $25 million for Aussie startups and a big hairy audacious goal of its own
Startups are expected to have outsized goals but local R&D financier, Advanced, is proving their funders can have big impactful goals too.
Sunshine Coast, Australia – 7 May 2025 – Local R&D finance firm, Advanced, is officially launching at FWD>>>FEST on the Sunshine Coast today, having raised $25 million to back Australian startups and bringing a founder-first approach to funding, including a big hairy audacious goal (BHAG) of its own.
Founded by Sunshine Coast based, Alex Knight, Advanced is an Australian company providing fast, flexible R&D finance to Australian innovators. R&D finance is a loan, secured against a company’s future R&D Tax Incentive refund – instead of having to wait until tax time, innovative companies can access more capital sooner during the most critical phases of a business to accelerate product development, grow faster and scale without compromising ownership.
Advanced’s $25 million purse is mostly debt funding and includes $2.3 million in equity. Its oversubscribed round includes family offices, angel investors and ex-founders: Adrian Bunter (Sydney Angels, Employment Hero), Alan Hegerty (Acclaim Wealth, Novigi), Wayne Gerard (ex-QIC, RedEye, Prtnr Ventures), and Phil Cummins (ex-QIC MD, Stepstone Group), who also joins Advanced’s board of directors.
With a background in venture and high-growth businesses – including VentureCrowd, Mr Yum (now me&u) and Vitable – Knight understands the capital needs of scaling companies and says Advanced is focused on fast flexible capital that works hard for companies and generates cumulative benefits.
“Our north star goal – our ‘big hairy audacious goal’ in startup terms – is to generate a cumulative billion dollars of economic impact in Australia in the next five years,” Knight said. “We’ll do this by enabling startups and innovative companies to turn their R&D Tax Incentive into a growth engine – by accessing it early, investing it into more R&D and thereby growing their refund to power even more R&D.”
Having seen the effects of slow, hard-to-access capital on startups, Knight has made speed and ease Advanced’s MO.
“We know what it’s like to be hampered by available capital and have to hold off on critical projects that delay getting products to market, and compromise commercial success,” Knight said.
“That’s why we handle approvals within 48 hours and provide funding as soon as 24 hours after signing. We’re a fintech, not a traditional financier, and we’re proud to see the positive impact this has on the startups we work with.”
Advanced is also committed to making a positive community impact, so far joining Pledge 1%, pursuing B Corp certification and contributing to local causes, such as Cyclone Alfred relief most recently.
“With every R&D tax advance that we make, we also advance a cause that’s bigger than our own,” Knight said. “If the founders and innovators we’re funding are passionate about a particular social, environmental or cultural cause, we contribute to that with our own funds, and we’re always keen to hear about local causes we can support.”
While finalising its raise, Advanced has already completed more than 50 R&D finance loans across biotech, manufacturing, software and deeptech companies, such as Rainstick, Sicona Battery Technologies, GapDrone and HowToo.
Whereas some R&D finance firms are foreign owned, Advanced is proudly founder-built and Australian owned, rooted in Knight’s down-to-earth Queensland approach.
“We love being part of the Australian startup ecosystem and backing local innovation to make waves well beyond our shores. With science and tech now Australia’s third-largest sector – and R&D investment lagging – we’re unlocking the capital founders need to move faster, drive innovation forward and build a brighter future,” Knight said.
